VC: Anonymous Sharing App 'Secret' Is The Most Misunderstood Startup Since Twitter
After 45 days on the market, anonymous social sharing app Secret announced that it raised $8.6 million in additional funding.
In a blog post announcing the funding, the company bragged about its engagement: "Notably, 75% of people with more than 5 friends come back every day. Furthermore, 90% of users that engage in a conversation come back within the week, often several times per day. Data like this reaffirms our belief that there is opportunity to build a platform around rich and unexpected conversations."
A lot of people are skeptical about Secret. It's built on anonymous conversations. People use Secret to broadcast thoughts and feelings they're too embarrassed to admit.
It feels like it's part of the anti-Facebook fad right now. It also tends to devolve into rude comments about other people, so there's doubts that it can last.
Keith Rabois, who is a VC at Khosla Ventures, and was formerly a COO of Square said on Twitter, "Secret is probably the most misunderstood app since Twitter." (He's not an investor in Secret.)
Why is it the most misunderstood app since Twitter?
A Box employee replied to Rabois with an explanation: "most significant aspect of Twitter was and is that it is global public messaging for free. People got lost in the details early on ... same is happening with Secret - people get lost in the details (i.e. 'it's just SV gossip') and miss what it really is."
We're not sure we totally agree, but it gives you an idea of why investors were so quick to reup with Secret.
Also important: "most misunderstood" doesn't equal "most valuable," so don't go too crazy.
Here's the full exchange:
Secret is probably the most misunderstood app since Twitter.
- Keith Rabois (@rabois) March 14, 2014
@rabois most significant aspect of Twitter was and is that it is global public messaging for free. People got lost in the details early on.
- sean rose (@sean_a_rose) March 14, 2014
@rabois same is happening with Secret - people get lost in the details (i.e. "it's just SV gossip") and miss what it really is.
- sean rose (@sean_a_rose) March 14, 2014
@sean_a_rose you are good at this stuff. Maybe you should be a VC?
- Keith Rabois (@rabois) March 14, 2014
- Should you be worried about the potential side-effects of the Covishield vaccine?
- India T20 World Cup squad: KulCha back on menu, KL Rahul dropped
- Sales of homes priced over ₹4 crore rise 10% in Jan-Mar in top 7 cities: CBRE
- Gold prices fluctuate as geopolitical tensions ease; US Fed meeting, payroll data to affect prices this week
- Best beaches to visit in Goa in 2024