The Yubo social network, founded by three young French people in 2015, is on the rise. Less than a year after lifting just over 10 million euros, the company announced on Wednesday November 18 that it had raised a new round of funding of 40 million euros. 40 million is also the number of registered users claimed by the mobile application. Very few compared to giants like Facebook and its 2.74 billion monthly active users. However, Sacha Lazimi, co-founder and boss of Yubo, is convinced that this network has everything to become a « leader » of the sector.
Unlike social networks where each user is valued by the number of “likes” they receive or retweets they generate, there is none of that on Yubo. The application, which specifically targets Generation Z, aged 13 to 25, offers its users the opportunity to join video discussion groups, to exchange views on topics that are important to them, to attend a makeup class or play a board game. “The idea is to replicate the way we socialize in the real world by harnessing the power of technology. “ The algorithms used make it possible to offer to meet people with the same interests, belonging to the same age group.
Containment resulting from the Covid-19 epidemic amplified the success of the application. In some areas where it had little presence, it has experienced tremendous growth, with + 1,200% of users in Latin America. The time spent by mobile users on Yubo has been multiplied by six. For the moment, the majority of users are in North America – and for good reason, this is where the company was launched – and more generally in English-speaking countries (Canada, Great Britain, Australia…). Because Yubo’s advantage is being able to meet strangers on the other side of the world, as long as you speak the same language. A quarter of the focus groups bring together people from different countries. In France, the number of subscribers on the application is around two million.
With his new fundraiser, Yubo intends to storm Asia. This windfall should also allow it to further improve its moderation system to silence the criticism of the company. Several media reported exchanges of pornographic content on the platform but also cases of harassment. The application has won a reputation of “Tinder for teenagers” which she would have gone well without.
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