Today Kin, a private social network app for families, launches with around €2.6 million in pre-launch funding – one of the highest private network raise in Europe ever at the time of launch. The app is entering the market with a valuation of around €20.6 million.
The Kin app provides an alternative to the predominant social media and messaging platforms that cater to hyper-connectivity and marketing. Families are able to keep in touch, share memories, images and record future messages in a safe and secure closed group, without having to navigate newsfeeds, influencers or unwanted members.
Founded in 2019, London-based Kin has been designed with privacy as a priority and its subscription-based model enables the company to guarantee that it will never sell any user data or engage with advertisers. It is an ad-free, secure and private place for families and loved ones to find sanctuary from cluttered and invasive environments where they traditionally share moments and memories. Users are secure in the knowledge that their data will never be sold to any third parties.
Kin was founded by Michael Collett and Matt Blom who identified a gap in the market and a need for a social app designed for families by families that protects the personal data and media of its users.
“Research shows that by the time a child turns 13 parents have already shared an average of 1300 photos of their kids online. However, only now are we beginning to truly understand the impact that this can have. By the year 2030, “sharenting” – sharing a child’s photos and personal information online – is predicted to account for two thirds of identity fraud online. So, it’s vital for parents to be aware of what information they are putting online in public and begin to alter their habits,” said Micheal Collett, co-founder and CEO of KIN.
“The public nature of traditional social platforms comes with risks and downsides, including having your data owned and sold to third parties. Consumers are now starting to wise up to this and take action – Whatsapp’s loss of millions of users following its privacy policy update in January perfectly encapsulates this change in consumer attitude.”
“However, people still want and crave an online space for family and friends to remain connected and create a space of intimacy, especially in the current times when many of us are unable to physically be with the ones we love, they just want their data to be protected and respected. Kin is meeting this new demand – we are entering a new age of private media space.”
With Kin, each family group has access to its own shared space which is only accessible via invitation from the designated group leader or ‘KinPin’. This ensures that all the personal information, data and media are kept completely private. Each user can access and experience Kin’s features including: Future Messages; In-app messaging; Your Storyline; Young Persons Account; Memorial Accounts.
Kin will be available in 10 different languages, and has estimated its user base collectively covering 4.8 billion people across the globe. The app aims to have 100 million users by August 2022.
