Source: The Information
Summary
A group of 20 former Snapchat employees have launched a fund called Ghost Angels to invest in the next generation of social media companies. The fund’s founders, who include former Snap executives and engineers, aim to provide guidance and support to early-stage startups. The fund’s focus is on social media companies that are building new platforms and experiences. Ghost Angels has not disclosed the size of the fund or the specific companies it plans to invest in.
Our Reading
The launch follows a familiar script.
Snap alumni launch a fund to back the next big thing in social media. Because what the world really needed was another social media fund. Ghost Angels, the brainchild of 20 former Snap employees, promises to guide and support the next generation of social media startups. Because, you know, Snapchat’s own experience with user growth and monetization was totally smooth sailing. Original observation: It’s like they’re trying to recreate the Instagram acquisition, but without the acquisition part.
Author: Evan Null
