Posts Tagged ‘tweetphoto’

TweetPhoto Lands $2.6 Million Investment

Real time photo sharing service TweetPhoto has raised a $2.6 million Series A investment from a group of investors led by Canaan Partners.

The San Diego-based startup is one of the closest competitors of TwitPic, the most popular photo sharing service for Twitter. As long as Twitter doesn’t compete in this space with 3rd party sites by starting its own service or acquiring one of the services, the future looks bright for TweetPhoto. Last year, TwitPic raked in $1.5 million in revenue and turned down an offer “much higher than $10“.

Although TweetPhoto still lags behind TwitPic in terms of traffic, TweetPhoto is attempting to ensure its growth and survival by spreading its eggs across multiple baskets. Unlike TwitPic, TweetPhoto has expanded to support other social networks including Facebook, MySpace, LinkedIn, and Foursquare.

GigaOM also reports that the company is thinking about changing its name, and will likely do so at some point in the future.

Real time photo sharing is just getting started and, if the investors are correct, we should be seeing much more growth and innovation in this space in the near future.