We Heart It Raises $8 Million
We Heart It is a website that lets you discover, collect, and share inspiring images and the people that like them. We Heart It has raised $8 million in Series A funding from White Oak Advisory and IDG Ventures. The company moved all 15 of their employees from Brazil to San Francisco except for founder Fabio Giolito. Giolito is currently dealing with visa issues.
We Heart It started off as a side project first. Now We Heart It lets users “heart” their photos and save them in collections online so that they can be shared with friends. We Heart It currently sees around 20 million monthly unique visitors and they are seeing 1 million new users registering per month. Their pageviews are in the multiple billions.
Ranah Edelin, one of the co-founders of Rhapsody, has joined We Heart It as the CEO. The company may monetize their service through banner ads. However, there is not any ads on their mobile device (2/3rds of their users come from there).
We Heart It plans on using the funding for handling servers and hiring more users.