Balderton backs Lifecake launch with £700,000

London-based Balderton invested in Lifecake because the private sharing of images and videos is a market niche that has not been served yet, the GP stated.

The investment in Lifecake is the venture capital firm's ninth deal so far this year, four of which involved firms based in the UK or Ireland, according to unquote" data. Overall, Balderton holds 41 portfolio firms in the UK and Ireland region, notably Lovefilm and Wonga.

Company
Lifecake is an application that allows parents and relatives to share photos and videos privately and only among the people they want to. The app offers an advertisement-free sharing zone that is available on iPads, smartphones and desktop computers. Users receive alerts via email or the app when new photos are shared. Overall, each user will have space for sharing or receiving 1,000 images and one hour of video for free. When reaching the limit, the app will cost £2.99.

People
Nicholas Babaian is Lifecake's CEO and co-founder. He is the former head of Skype's production team. Matthew Sheppard is Lifecake's CTO and also a co-founder of the firm. Sheppard used to build mobile platforms for content delivery and payments at Qualcomm and Yahoo. Roberto Bonanzinga is a partner at Balderton.

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• Topics
• UK / Ireland
• Technology
• Early-stage
• Germany
• Balderton Capital