In early 2016, Lobster raised £339,256 on SyndicateRoom to continue capitalising on the sea of content available on social media.
Over 1.8 billion photos are shared on social media every day – images considered to be more authentic and memorable than traditional stock photography – and brands are starting to catch on. Lobster is capitalising on this opportunity by providing a marketplace where user-generated photography can be easily sourced and bought.
Customers can license photos and videos from Lobster’s registered users instantaneously and affordably. Social media users only need to log into Lobster once to licence their content, and then continue posting their images and videos to their preferred social networks. They then receive 75% of the profits of any sales.
The lead investor in this round was Evgeniy Medvednikov, a private angel investor living and working between Russia and the USA. The funds in this round will be used to help to scale the marketing, sales and tech teams to support partnerships, as well as to finance the addition of a highly-requested subscription model aimed at agencies.
Where are they now?
Lobster was launched on the stage of TechCrunch Disrupt Europe 2014. With the support of the Wayra accelerator programme, Lobster has reached a place where it is now a developed, revenue-generating platform with hundreds of customers – including popular online platform, Mashable. The company was also quickly recognised by YouTube, which has since approached Lobster about a possible partnership.
The Lobster team was selected to attend the UKTI Digital Mission to NYC, which coincided with Social Media Week New York – a great opportunity for Lobster to start building the groundwork for its expansion into the US, in addition to the ad-hoc customers it already has in the region.