Even seemingly crowded categories can see newcomers climb up the ranks. This includes social media: A new app called noplace hit No. 1 on the App Store right after it launched out of invite-only mode.
Besides confirming user appetite for new forms of social media, this also demonstrates that it is still possible to go viral in 2024, as evidenced by the French app ten ten earlier this year. Both apps also show the value in revisiting older tech ideas — Myspace for nospace and walkie-talkies for ten ten.
It is also a reminder that consumer tech can attract VC backers. This is a segment noplace CEO Tiffany Zhong knows well; before starting this company and raising funding from investors, including Alexis Ohanian’s 776 and Forerunner Ventures, she helped Binary Capital source early-stage consumer deals and later created early-stage consumer fund Pineapple Capital.