Last September, we were excited to announce our investment in Amino, a network of mobile-only communities focused on passion verticals. The company has made some great progress since then and today is announcing a new Series B fundraising and revealing updated metrics.
Amino’s belief, led by founders Ben Anderson and Yin Wang, is that every passion vertical deserves a dedicated and vibrant mobile community. They started by releasing stand-alone apps for many teen-specific topics, like anime, cartoons, and Minecraft. Those individual communities took off and quickly became healthy communities.
This summer, they launched a mobile app that allows anyone to create their own community. In just the first 60 days, 150,000 new communities were created. Today they are announcing that their users have created more than 250,000 communities on the platform, from Walking Dead and Vegan to Marilyn Manson and Five Nights at Freddy’s.
As each of these new communities reaches a particular scale, they get spun out of the Amino app and become their own stand-alone app in the App Store. Already, Amino operates a portfolio of more than 250 stand-alone apps, with hundreds or even thousands more expected in the future, created and moderated by their users.
As you would expect to see with vibrant communities, the engagement and usage time is very high — individual users join an average of six communities and spend an average of 60 minutes per day on the platform. As a comparison, users spend around 85 minutes per day on Reddit, an average of 50 minutes per day on Facebook, Instagram and Messenger combined, about 30 minutes per day on Snapchat and somewhere between 14 and 30 minutes per day on Tumblr.
Today, Amino is announcing a $19 million Series B fundraise led by our friends at GV (M.G. Siegler). We are welcoming Goodwater Capital (Chi-Hua Chien) and Time Warner Investments (Allison Goldberg) as new investors, and of course USV and Venrock were thrilled to participate in the round again.
We are all thrilled with Ben, Yin and the team’s substantial progress and are excited to help them realize their dream of tens of thousands of mobile communities — one for every interest and passion you can think of.