Pocket Reaches 6 Million Users, Raises $5 Million in Funding

Pocket

Adrianna Jeffries:

Pocket added 1.5 million registered users after the redesign. It now has 6 million users who save a million items a day. Users are starting to think of Pocket as a place to save all sorts of media: The amount of video saved by users has doubled since the redesign, Weiner said. The app differentiated itself from other save-for-later apps (ahem, Instapaper) by adding filters to separate different types of content, and, of course, by being free.

Today, Pocket has another announcement. The company raised a $5 million round of funding on top of the $2.5 million it raised last year. The round was led by Foundation Capital, a Menlo Park firm that also backed Netflix. Firms participating included Baseline Ventures, a relatively new firm founded by eBay veteran Steve Anderson, and the choosy Google Ventures.

Several months later, and I continue to be very impressed by Pocket. Supporting a content agnostic attitude toward the traditional “save for later” service, Pocket has become an extraordinarily useful element of my day-to-day workflow.

Although I have a deep-seated appreciation for Instapaper, Pocket’s versatility, intelligent app design, and general capability renders it a consistent victor for my attention. Moreover, given its stated purpose as a means to gather all forms of content, I tend to see it as a much more modern solution to a historical problem.

Having said that, I certainly don’t mean to downplay the significance of Instapaper. The latest re-design of the app — particularly on the iPad — is nothing short of phenomenal. But, as is the nature of the digital service industry, you inevitably have to pick one and stick with it. For me, Pocket has won my attention for the coming year, and I’m certainly excited to see what their “massive” plans entail.