Video sharing app Meerkat has raised a funding of $12 million in Series B round of funding. The funding was led by Greylock Ventures and a few angel investors.
Greylock participated majorly with investments in range of $9-10M, the rest was contributed by unnamed angel investors according to TechCrunch
Meerkat is believed to be valued at $52 million post the funding. The video sharing app claims to have gained over 300,000 users, and aims to create something bigger and better than the existing app as shared recently by.Ben Rubin, Founder of Meerkat.
The company was found at the end of February, 2015 and already has a short and controversial history. The app gained instant success and garnered headlines, as it was easy to use and totally compatible with Twitter. The buy-out of periscope, another video sharing app by Twitter and Twitter’s newly imposed restricted access on social graph for Meerkat were enough reasons for Meerkat to go under Funding in such a short span of time.