AGORA images Launches a Second Round of Investment to Raise 1.5 Million Euros
BARCELONA, Spain, January 23, 2018 /PRNewswire/ --
AGORA images, the very first image marketplace and social network to involve neither middlemen nor commissions , has just launched its second round of investment with the aim of raising 1.5 million euros. A month ahead of officially launching the round, over 900 thousand euros (60%) has already been secured.
(Photo: https://mma.prnewswire.com/media/631495/Octavi_Royo_AGORA.jpg )
The interest awoken in investors comes as no surprise, considering their extremely successful metrics. AGORA images had finalized in June 2017 a first round of funding in just days, with 11,000 users and 45,000 photos uploaded to the platform. To date, ahead of the new round, there are over 900,000 users and 2.6 million photos have been uploaded from over 190 different countries. A photo is uploaded to AGORA images every 4 seconds, and on a monthly basis over 340,000 users are active on the app more than 4 times a week as Loyal Users. Every session has an average duration of more than 5 minutes, and the acquisition costs of new users are among the lowest in the Spanish App market.
The goals for this new injection of capital are focused on boosting the internationalisation of AGORA images, accelerating its expansion to other markets, and developing new functionalities in the marketplace, to consolidate their success across the globe. The company also wishes to increase its personnel team, and undertake new marketing and communication campaigns to continue capturing mass users.
As CEO and co-founder of AGORA images Octavi Royo explains, "If, at today's date, with limited investment in marketing, we have achieved over 900,000 users in just a few months, an injection of new capital to the company will enable us to reach out much further".
The second round of investment opens barely a few months after closing the first, which secured 625,000 euros. The app continues to grow, whilst the web site www.agoraimages.com is already receiving 150,000 monthly hits.
As Octavi Royo clarifies, the key to this success is the concept of the marketplace: "to earn money with your best photos," which thanks to smartphones and their integrated cameras, is now at the reach of all, enabling individuals to generate images of interest to others. "What Uber has done with transport, and Airbnb with rental homes, AGORA images is now doing with the sale of images, and without middlemen or commissions" he adds.
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