The company's growth plans now have more chances to become reality
Imgur, the photo website originally created for Reddit users, has just received its first outside funding with a $40 million (€29 million) round.The site was created back in 2009 and has since grown into one of the major online hosts for images and gifs. In fact, the site has over 130 million unique monthly visitors and billions of page views.
“As a company that bootstrapped our way to profitability and had a blast doing it, we really weren't out looking for money at all. That said, as soon as we started talking with Marc and Lars, we knew this was a great fit. Lars completely gets what we're trying to accomplish, and has pledged to help us conquer the Internet. The only sad part is that we won't be eligible for any more Best Bootstrapped Startup Crunchies,” said Alan Schaaf, founder and CEO of Imgur.
The investment comes from venture capital firm Andreessen Horowitz. Along with the cash inflow, general partner Lars Dalgaard will be taking a Board of Directors seat at Imgur.
The money will be used to accelerate the internal growth of the company and to drive product development and innovation, as well as to grow the worldwide community.
“We've been watching Imgur for years, and the way Alan and his team have committed to building for the community is truly impressive. It's rare to see a company so committed to preserving an excellent user experience, and it's no accident that this community has flourished. We hope to provide resources and guidance to help Imgur continue down this path, with the freedom to do even more to accelerate product innovation and community growth,” said Lars Dalgaard, general partner, Andreessen Horowitz.
Schaaf seems to be excited about the deal. He explains that by always putting the community first, they have managed to build and maintain an authentic experience that has grown organically.
“Partnering with Andreessen Horowitz is an incredible opportunity to take the next step. Lars is so passionate about Imgur, and we felt that from the first time we sat down. We're already feeling the impact of this partnership. We're thrilled to move ahead and continue to build an amazing experience for our community,” Imgur’s CEO said.
It’s clear that Imgur has developed plenty of plans for the future, especially after releasing an analytics service that should help attract marketers.