Cheers App Raises $2.5 Million in Series A

Cheers app social network has raised $2.5 million in series A round of funding. This round of funding was led by MindFund and including Charles River Ventures, Trinity Ventures, AngelList founder Naval Ravikant and others. Launched in February, the new company has gained a notable number of users and they are trying out new things now. With the new round of funding, the company will continue experimenting with the social networking platform, reports Darrell Etherington of Techcrunch.

The feature of this social network is to engage in doing what they love to do.The fundign has installed an additional “Celebrations “feature in the app. This came into force into force from past few weeks. This new feature has an added advantage by concentrating on the aspects they like in the app rather than going through the entire content which is generalized. This app is similar to Oink app that failed to grab the eyes of the people. Farhad Mohit, CEO, says that he has not witnessed the actual amount of numbers that he expected the company to get.

“If you look at the kinds of decisions that need to be made, there are several layers. There’s the purchase layer, when you want to decide whether or not to buy from somebody. For those, BizRate and its ilk were very satisfactory. Then one level above is sort of vendor choice. That’s where Yelp comes in. They [Cheers and Oink] come in at the awareness level – they help you decide whether something is even on your radar to consider.”, reports Mohit. As told to Darrell from TechCruch

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