New Photo Sharing App Color Raises a Whopping $41 Million in Funding

The mobile photo sharing space is hot right now, with services like Instagram, Picplz, and Path growing like weeds. A new contender called Color is causing some buzz after successfully raising a whopping $41 million… before even launching. The company has seven notable founders who have either started successful companies in the past (e.g. Lala and BillShrink) or have held executive positions at them (LinkedIn). Among the investors is Sequoia Capital, one of the most influential and successful firms in Silicon Valley and the firm that funded Google. They gave Color more than they gave Google.

The video above gives a short preview of what the app actually does. It’s a photo sharing service that is based around your present location, pooling together photographs taken in a particular time and place to constantly create “memories” for you to keep and share. It’s also free and available now if you want to give it a try.