Ina Fried

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Loom Gets $1.4 Million in Seed Funding From Google, Tencent to Build a Better Photo Library

Seeking to stand out in a crowded photo-storage space, Loom said on Friday that it has raised a $1.4 million seed round to fund its vision for syncing photos across multiple devices.

Loom iPad-feature

Investors include Google Ventures, Tencent, DC Shoes founder Damon Way and Will Smith’s Overbrook Entertainment.

Loom, a Y Combinator alum, is making the pitch that it is more than just a place to ditch one’s photos for backup. Rather, it creates multiple separate versions of each image for efficient and fast viewing on different types of devices. For now, Loom is Mac- and iOS-only, though the company aims to eventually support Android, PCs and Windows Phone.

In addition to the funding, the site is opening its service to the public, after being in closed beta since July. Up to five gigabytes of storage is free, with 50GB of storage going for $3.99 a month, and 250GB going for $9.99 a month.

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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work