Color Raises USD 41 Million

Gail Chiasson, North American Editor

We’re a little late with this news, but we found the amount of money being invested for this app launch so amazing, we thought it worth a mention.

Color, a Los Angeles start-up that has developed a mobile photo-sharing application – also called Color – recently raised $41 million in funding from backers including Sequoia Capital, Bain Capital and Silicon Valley Bank.

Color was founded by Bill Nguyen, who sold his previous company Lala, a music site, to Apple in 2009. Color has launched its new app for both the iPhone and the Android. The service establishes connections based on location, so users see photos of those near them, as well as those of their social contacts.

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