Subscription newsletter platform Kingpin Substack shared today that they have acquired the team behind Cocoon, a subscription social media app designed for close friends.
We covered the initial $ 3 million seed increase of the Wii Combinator-backed startup in November 2019, led by Lear Hippo, before the epidemic dramatically re-emerged before people turned to social media for their loved ones. How to use it to communicate with people. Cocoon’s initial pitch was for a social network for your close friends, something that could level up a text group chat that you’d be stuck using before, although over time Cocoon changed its plate. The dynamics of the form allowed for more open social circles so that users could recover. Custom lyrics. Through the app, users can share text and photo updates while using passive data from sources such as mobile location data or fitness status to deliver automatic updates to feeds such as Slack Channel for specific groups of their friends.
The app was co-founded by Sachin Monga and Alex Cornell, who met in product rolls on Facebook.
Unlike many other networking apps, Cocoon did not rely on ads or user data to monetize, instead forcing users to pay a $ 4 monthly subscription. Despite the app’s clever design, it looks like it won’t last long and won’t fit the market, and Substick says it won’t continue to support the app, instead They bring a small team on board. Given Substock’s recent moves around community building for its newsletter writers’ network, it’s no surprise that they’re looking for more talent in space to help build their platform’s functionality. Are
Back in March, the startup revealed that it had closed the بی 65 million Series B for ڈالر 650 million, increasing the cash as they tried to explain the location of the late On Twitter and Facebook both released the newsletter this year’s product. He has been handling some small startups for the last few months. Earlier this month, he revealed that he had bought a debit platform letter for an unknown amount. In May, he teamed up with a community building consultancy startup called People & Company.