May 13, 2013

Photo App With 4M Users, Snapeee Operator, Mind Palette Has Series B Fundraising To Acclerate Tie-up Business / TechWave

Mind Palette was adopted for the first service at business plan contest, Startups2010 organized by CyberAgent Ventures. The company launched the social purikura (photo decoration) service, Snapeee in May, 2011. In November of the year, it raised capital from Itochu Technology Ventures and Gree. ...

The series B investors include SMBC Venture Capital, Dentsu Digital Holodigs, Mitubishi UFJ Capital, PSC, Suneight Investment, and Itochu Technology Ventures. ...

continue reading in Japanese ...
TechWave 5/13/2013 [jp]

  • The amount is not disclosed. The series A from Itochu and Gree is 100 million yen. Considering the amount and a number of investors for the B round, it may be a few hundreds of million yen or more. There have appeared many photo decoration and sharing apps among which DECOPIC operator, Community Factory was acquired by Yahoo Japan last year. It is interesting to see how Snapeee will monetize the large number of users and what exit the company chooses in the future.

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