Lapse, a social camera app that allows users to snap and ‘develop’ rolls of film with groups of friends, has been making waves in the tech world. With over 1.2 million installs worldwide, it has climbed to No. 1 on the App Store from its earlier Overall rank of No. 118 since September 10. But what’s behind this sudden success, and is Lapse’s growth sustainable?
A Brief History of Growth Hacking
Growth hacking, a term coined by Sean Ellis in 2010, refers to the practice of using non-traditional marketing methods to acquire users quickly. One such method that has been used in the past is SMS invite spam, where an app would send automated texts to users’ friends and family inviting them to join.
Lapse’s Unique Approach
While Lapse does use a growth hacking technique similar to SMS invite spam, it differs from its predecessors in one key way: user consent. When users tap to ‘invite their friends,’ they know exactly what they’re getting into, unlike some older apps that spammed users’ contacts without their permission.
A Mega-Seed Round of $11 Million
In 2021, Lapse announced a mega-seed round of $11 million from investors including Octopus Ventures, GV, Speedinvest, and individuals. This funding has allowed the app to expand its user base and improve its features. According to data from market intelligence firm data.ai, Lapse has close to 1.2 million installs worldwide, with the U.S. accounting for 92% of those.
The System Appears to be Working… For Now
While Lapse’s growth is certainly impressive, it remains to be seen if the app can sustain its momentum. The system appears to be working in the near term, but convincing users to stay and remain engaged will be a much harder test for the app.
The Future of Lapse
With its unique approach to growth hacking and significant funding, Lapse is certainly an app to watch. But as with any startup, there are challenges ahead. Can Lapse turn its hype into a business? Only time will tell.
