Retro, a photo-sharing application developed by former Instagram product engineers Nathan Sharp and Ryan Olson, has secured more than $21 million in Series A funding. An SEC filing under the startup's name, Lone Palm Labs, confirmed the fundraise, which was closed in December.
The app, launched in 2023, aims to connect users directly with friends, moving away from personalized algorithms and creator content. Nathan Sharp previously stated that people will continue to want to see more of their friends and that photos and videos need to reach their intended audience.
Retro has expanded its features to include private photo sharing, shared albums, recaps, and a "rewind" function for photo memories. The app does not rely on advertising for revenue, instead offering in-app subscriptions for features such as video, GIF, and sticker comments, additional styles, unlimited history, and special app icons.
According to Appfigures data, Retro has been downloaded around 7 million times since its launch. In-app spending has reportedly increased by over 460% in the last 180 days.