Frames, a social video collaboration app, is looking to raise £400,000 through Seedrs’ equity crowdfunding portal as it prepares to attract new registered users.
The app, which was launched on March 1st through both iOS and Android app stores, allows users to invite their friends and followers to share in videos with them, regardless of where they are. First, users record a video of up to 60 seconds and then invite others to record and add their segments to the video. Frames is currently available in English, Spanish, Portuguese, Japanese, Chinese Traditional, and Chinese Simplified.
The apps developers explain:
“[Frames] allows users to post their own unique daily video updates. Each user has the option to capture videos all in one go or in multiple segments recorded over a period of time. All content on Frames is user generated and exclusive ensuring that the network has fresh and exciting content for everyone to enjoy. The creative opportunities are endless!”
Frames’ development team, who are based in Cheltenham, consists of those who have experience in the social networking and tech fields. Their past photo and video category products have reportedly reached the top 10 ranks in multiple app stores. The team revealed within the first month, Frames reached top 10 app store ranking in four stores in the social networking section and top 100 in 80 across all section. It has 42,000 users have registered with a 65% conversion rate and over 104,400 minutes of video playback has been recorded.
Funds from the campaign will be used for the following:
- User acquisition growth
- Continuous development and improvements to the platform
- Network and infrastructure to support growth.
The Frames team also shared:
“We will be using the proceeds of this fundraise to take the business to the next milestone, which for us is securing over 500,000 registered users within 6 months.”
Frames’ campaign is set to close mid-August.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!