Imgur has been a popular photo sharing service on Reddit, and now the company has received a $40 million investment from Venture Capital firm Abreesen Horowitz and also Reddit.
Imgur has previously been bootstrapped, and the company will now use the $40 million investment to develop new products, grow its community and expand internationally.
As a company that bootstrapped our way to profitability and had a blast doing it, we really weren’t out looking for money at all. That said, as soon as we started talking with Marc [Andreessen] and Lars [Dalgaard], we knew this was a great fit. Lars completely gets what we’re trying to accomplish, and has pledged to help us conquer the Internet.
Imgur has around 130 million visitors each month, it will be interesting to see how it grows over the next 12 months.
Source The Next Web
Image Credit Imgur