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Yubo raises $12.3 million for its social app for teens

French startup Yubo has raised a $12.3 million funding round led by Iris Capital and Idinvest Partners. Existing investors Alven, Sweet Capital and Village Global are also participating. The startup has managed to attract 25 million users over the years — there are currently tens of thousands of people signing up to the platform every day.
Yubo is building a social media app for young people under 25 with one focus in particular on helping teenagers meeting new people and creating friendships. Compared to the most popular social media apps out there, Yubo isn’t focused on likes and followers.
Instead, the app helps you build your own tiny little community of friends. Yubo wants to become a familiar place where you belong, even if high school sucks for instance.
More details in my previous profile of the company:

Yubo is a social network about socializing
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