In 2024, the cost of using an analog camera, buying film, and developing pictures can be expensive. However, a startup called Lapse is offering smartphone users a modern twist on the nostalgic process. Users take pictures and wait for them to be “developed” before sharing them with a select group of friends.
Lapse has gained popularity in the market, boasting millions of users and capturing 100 million photos each month. The startup recently announced a new funding round of $30 million to further its ambitions. Greylock and DST Global Partners co-led the round, with previous backers also participating. This brings Lapse’s total funding to over $42 million and a valuation of around $150 million.
Lapse’s future plans include enhancing the photo experience with more features and eventually expanding into video. CEO, Dan Silvertown, mentioned a potential for monetization in the future, steering away from traditional advertising methods.
The company embraces a vintage ethos while incorporating modern technological processes. For instance, each photo undergoes about 12 different processing steps to optimize the composition and subjects within. While some app mechanics have faced criticism, Lapse aims to provide a unique platform for sharing photos with friends.
As other social apps evolve into vast platforms, Lapse aims to provide a more intimate experience for users to connect with close friends through photos. Investors see potential in Lapse’s concept, recognizing the need for a simpler way to stay connected with friends through visual content.
