Mammoth Media, the startup behind chat fiction app Yarn, raises $13M

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Mammoth Media has raised a $13 million Sequence A investment to create what it calls “entertainment experiences for the mobile-first generation.”

Mammoth isn’t now not the first startup to pitch itself as reinventing leisure for smartphones, however for the maximum section, that message has come from gaming corporations. Co-founder and CEO Benoit Vatere stated he sought after to take the mobile-centric way past gaming and social media.

Relatively than “mixing social and media,” Vatere stated the center of attention at Mammoth is “content and content alone.” That doesn’t imply aside from social completely. For instance, Mammoth made the Wishbone app, the place customers can vote on issues “Who’s cuter?”, however Vatere stated Wishbone is extra like The usa’s Funniest House Movies than this can be a social networking app — the center of attention is on developing shareable content material, now not on speaking for your buddies.

Mammoth additionally created Yarn, certainly one of the apps turning in fiction in a textual content message structure. The corporate says that the moderate Yarn subscriber (pricing begins at $2.99 a week) spends 50 mins studying in the first week. Consistent with App Annie, Yarn been the primary books app in numerous nations, together with the United States.

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The app not too long ago introduced Hack’d, a horror collection that includes Musical.ly celebrity Kristen Hancher. Vatere stated we will be expecting to peer extra collection starring social media influencers — after seeing response movies to Yarn content material, his group concept, “Why not, instead of having them react to the story, have them in the story itself?”

But even so subscriptions, Yarn additionally makes cash from sponsorships — it’s a partnership with Skype, leading to 3 tales that “highlight Skype’s communication features.”

And Vatere plans to release new apps. The speculation is to proceed experimenting with new codecs, this means that a few of the apps most likely gained’t take off, however he’s hoping to release “one very successful experience” each and every yr. This additionally calls for a sustainable and repeatable style for development audiences.

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“Virality is key to helping growth, but virality cannot sustain a business,” Vatere stated. “You’ve so that you could do consumer acquisition correctly … You wish to have to udnerstand how a lot you’ll have the funds for according to consumer.
We now have the engine that tells us that.”

The investment used to be led via Greylock Companions, with participation from Science Inc., the project studio the place Mammoth used to be incubated. Greylock’s Josh Elman wrote that he’ll be becoming a member of the Mammoth board, and he famous that that is his first funding in Los Angeles.

“I’m #longLA and I believe there will be many more great companies that bridge technology and entertainment and LA will be a great place for those companies to grow and prosper,” Elman stated.