Oct 31, 2020 | Updated: 09:48 PM EDT

Secret’s App Valued at $50 Million

Apr 21, 2014 11:18 AM EDT

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Secret’s App is valued at $50 Million. The anonymous messaging app, confirmed as first reported by The Wall Street Journal last month, that it has raised nearly $10 million in fresh capital. There were $8.6 million in funds raised from several investors including Google Ventures, Initialized Capital, and Kleiner Perkins Caufield Byers. The WSJ also reported Secret’s App as securing a valuation of about $40 million, not including the investment.

Worldwide IT spend on cloud computing has increased more than 25 percent from 2008 to 2012. 30% of small and mid-size businesses (SMBs) used cloud software in 2011.A study by Mimecast in 2010 found that 70 percent of companies that were using cloud computing services Willing to and will move new applications to the cloud.48 percent of U.S. government agencies moved at least one workflow to the cloud following the new requirement Federal agencies adopt a “cloud-first” policy.41 percent of senior executives say they are using or plan on using some kind of private cloud.Cloud providers have increased personnel from nil in 2007 to over 550,000 in 2010.

The Android Instant Messaging Market is poised for opportunities and growth. The recent acquisition of Facebook acquiring WhatsApp last month indicates a promising future for instant messaging platforms. Facebook paid an estimate of $16 billion for WhatsApp. WhatsApp currently has an estimate of 450 million monthly active users.

Text communication is a common way of messaging today. Keeping in touch through text messaging requires convenient options today for Android users. Even the costs are free for texting app. These types of apps are even created specifically for Android smartphones and tablets. Free texting apps can save all costs versus carrier rates.

Secrets are delivered anonymously to the people in the users Contacts who are on Secret. They can view, love and comment on a post. When friends love the secret, it will be shared to their friends. If they love the post, it can reach even further. When a secret travels beyond two degrees, it will be marked with general location, like “California”. People beyond two degrees will be able to love a post or comments, but won’t be able to add comments to the conversation.

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