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Skout Raises $22M to Create Premier Global Network for Meeting PeopleFunding From Andreessen Horowitz Will Accelerate Growth for Location-Based Social Network (April 03, 2012)
SAN FRANCISCO, CA -- (Marketwire) -- 04/03/12 -- Skout, the largest mobile network for meeting new people, today announced that it has secured $22 Million in expansion capital from venture capital firm Andreessen Horowitz. The investment will fund Skout's growth as the premier global network for making connections and meeting new people anywhere, anytime.
"Skout has cracked the mobile, social and local code, addressing a critical part of the social graph that is untouched by others in the space," said Scott Weiss, general partner at Andreessen Horowitz. "The remarkably active and fast-growing Skout community shows that people are looking for new ways to make meaningful connections. Like Facebook and Twitter, Skout is poised to be a critical component of everyday social life" Weiss expanded on the opportunity for Skout in a new blog post.
Location-based services are projected to reach US$21.14 Billion in annual revenue and 1.24 billion subscribers by 2015, according to Global Industry Analysts, and Skout is well-positioned to capitalize on the growth trend. Currently, Skout is the largest, most active mobile social scene, with millions of community members in more than 100 countries and a million new people joining every month. Skout's community displays a significant degree of engagement, with the average Skout user checking in eight to nine times every day and spending an average of 45 minutes chatting, exchanging gifts and posting photos on the app. More than 300 Million messages are exchanged on the platform monthly.
"At Skout, we are obsessively focused on building the most engaged, active and thriving social network that incorporates location," said Christian Wiklund, Skout's CEO and founder. "Skout is about preserving the 'magic' of serendipitous meetings, making possible a wide range of social connections from romantic to friendship to networking. This investment will help us expand our reach and fuel our ongoing efforts to create the best experience for our community."
The Skout mobile platform is designed from the ground up with massive scaling, location awareness and dynamic live functionality to deliver the most engaging, personalized and self-directed experience. From basic interactions to messaging and virtual goods exchanges, each communication is made directly from one community member to another, creating real connections and unique experiences. Unlike many location-based apps, Skout provides general rather than specific location information, empowering each community member to decide if, when and where to meet in person. The ability to discover and be discovered by potential new friends opens a world of new social opportunities. The app is available for the iPhone and Android phones. To learn more about it, watch Skout's new demo video.
Skout is the global network for meeting new people. With your mobile device as your guide, you can discover new friends at the bar or in Barcelona; then YOU decide if, when and how you want to connect. The Skout community thrives because we focus on fun and have zero tolerance for bad behavior. Life is short, you are busy and people are having fun without you right now. So start Skouting and find your party, anytime, anywhere. www.skout.com
About Andreessen Horowitz
Andreessen Horowitz is a venture capital firm that provides seed, venture and growth-stage funding to the best new technology companies. Founded by Marc Andreessen andBen Horowitz, Andreessen Horowitz helps entrepreneurs become successful CEOs and build important and enduring companies. Its general partners are Marc Andreessen, Ben Horowitz, John O'Farrell, Scott Weiss, Jeff Jordan and Peter Levine, all widely recognized experts in the creation, scaling and operation of high growth technology companies. The firm has $2.7 billion under management across three funds. Among its 90 investments are Airbnb, Apptio, Box, Fab, Facebook, Foursquare, Groupon, Jawbone, Lytro, Pinterest, Silver Tail Systems, Twitter and Zynga. The firm was established in June 2009 and is located in Menlo Park, California. www.a16z.com
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