Member Update: Gfycat raises $10 million to help creatives fire up the memes

Congratulations to member company Gfycat on the recent announcement of its $10 million raise and making its API available to developers. We're thrilled to have them as campus and commons members at Startup Edmonton.

Founded in 2013, Gfycat upgrades the GIV viewing experience to the 21st century. Dan, Jeff and their team create a 10x faster viewing experience, compressed files, provide colour options, support streaming and offer multiple file formats for users. The team at Gfycat create and manage one of North America's most visited websites! 

 Gfycat (which is pronounced “Jiffy Cat”) has raised a mammoth $10 million seed round to turn its already popular user-generated content platform into a revenue generating concern.
On the content creation side of its business, the startup reports that 2.5 million unique users have already created 25 million “Gfycats,” or short, silent, looping animations and video clips.

Gfycat also boasts 75 million monthly active users on the viewer side of its platform, who watch 1.5 billion user-generated GIFs and clips there per month.

- Posted Sep 22, 2016 by Lora Kolodny (@lorakolodny) | TechCrunch