Los Angeles Business Journal

Flipagram Rumored To Be Snapping Up Big Round

By Justin Yang Thursday, February 6, 2014

Flipagram, a popular mobile app that creates video slideshows from multiple photos, is looking to raise $50 million to $60 million in its funding round, valuing the company at $300 million, according to TechCrunch.

The Wall Street Journal reported last month several venture capital firms, including Sequoia Capital and Index Ventures, have been in talks with Flipagram’s Los Angeles parent company, Cheerful Inc. about the app.

Cheerful, led by Chief Executive Farhad Mohit, sold its Shopzilla shopping comparison app to E.W. Scripps for $500 million in 2005. The company also raised $2.5 million last year from Charles River Ventures and Trinity Ventures.

Flipagram is free to download and charges money for features like including music and personalized watermarks in the slideshows.