Startup's Photo, Video-Sharing App Breaks New Ground

Silicon Valley startup colour Labs released a new smartphone app yesterday that lets people nearby share photos, videos and text messages in real time.

Sequoia Capital, the venture capital firm that backed Google and Apple, recently invested $25 million in colour. Sequoia “told us that every 10 years or so a company and a marketplace and an opportunity come together that’s transformative,” colour chief executive Bill Nguyen said. “They told us, ‘not since Google have we seen this.”

“No other app connects people like colour does,” says Sequoia partner Douglas Leone.

Nguyen sold his last startup, streaming music service Lala, to Apple.

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