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July 28, 2014

Instagram rival Snapeee gets $4m to fund global expansion

Japanese app is extremely popular amongst women.

By CBR Staff Writer

Snapeee, a leading Japanese competitor to Instagram, has raised $4m in a round of funding led by Kodansha, Energy and Environment Investment, and Global Brain as it looks to expand its business across the globe.

The app, which lets users doodle and decorate photographs before sharing them on social networking sites, debuted on Google Play and the iOS App Store back in 2011.

By 2012 Snapeee, which also provides certified channels for celebrities and businesses, had more than one million registered users, but afterwards it could not create much buzz around the app.

However, Snapeee planner Tetsuya Itoh told Tech in Asia that the app has grown to 8 million registered users since then, and adds 10,000 new users daily.

With 1.8 million accounts, Japan has the most number of Snapeee users, followed by Taiwan with 1.4 million users, and the app makers are planning to get more than two million monthly app users in Japan alone and 10 million users worldwide.

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