Launched in June 2019, IRL says it has over 12 million monthly active users.
Group messaging app IRL, which stands for real life, on Tuesday said it has raised $170 million in a funding round led by SoftBank Group Corp.’s Vision Fund 2, valuing the company at 1.17 billion dollars. The San Francisco-based startup’s messaging platform works like WhatsApp to create private group chats but also allows public groups to form, said IRL CEO Abraham Shafi.
Launched in June 2019, IRL says it has over 12 million monthly active users. The funds will be used to expand the business internationally and set up a reliable and secure team to oversee public groups. Shafi said the IRL will only make verified groups publicly discoverable until it becomes available.
While there are many messaging apps, Shafi said that aside from the Chinese messaging app WeChat, owned by Tencent Holdings Ltd, none offer public group chat alongside private messaging. .
“So the big play is, we really have a chance to be the WeChat for the rest of the world,” he said.
The IRL could allow ads to promote events or people, but it wouldn’t be a core revenue stream, he said.
