Retro, a photo-sharing application developed by former Instagram engineers Nathan Sharp and Ryan Olson, has secured over $21 million in Series A funding, as disclosed in an SEC filing dated August 19, with the round having closed in December. The funding round, conducted under the company name Lone Palm Labs, values the startup at more than $100 million, according to PitchBook. Retro positions itself as a friend-focused alternative to algorithm-driven social media platforms, emphasizing direct connections between users.
Since its launch in 2023, Retro has evolved from a personal photo journal into a platform that enables private photo sharing among friends, shared albums, recap viewing, and a “rewind” feature for revisiting past memories. The app distinguishes itself by eschewing advertising revenue in favor of in-app subscriptions, which offer enhanced functionalities such as video and GIF support, additional styles, unlimited history, and custom app icons. Appfigures data indicates that Retro has achieved approximately 7 million downloads and experienced a surge of over 460% in in-app spending over the past 180 days, suggesting a dedicated user base despite the relatively small proportion of subscribers. The funding round was supported by a consortium of investors including Thrive Capital, Figma CEO Dylan Field, Scribble Ventures, Box Group, Imaginary Ventures, Coalition, Conviction, Copper, Positive Sum, and various angel investors.