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The product allows unpaid teams to have up to 150 conversations. Businesses can pay for a premium version of the software that allows unlimited conversations for $ 10 per month per user.
The company raised just under $ 11.5 million, including a $ 10.5 million series. A round was announced on Wednesday and led by Sequoia Capital.
Mike Vernal, a partner at Sequoia Capital and former vice president of products and engineering at Facebook, said the company invested in Threads largely due to Kazi's work on Facebook. Vernal said he is a big fan of Kazi, who is exceptionally talented and "one of the fastest growing people with Facebook."
In one of Facebook's hackathons, a team assembled a tool that took the user's unstable video and stabilized it. Everyone on the hackathon was impressed by the tool, but no one knew what to do with it, Vernal said. Kazi adopted the software and spearheaded its development in Hyperlapse, an Instagram application that allows the user to make stable time lapse videos.
"Hyperlapse would not exist if it were not for Rousseau to adopt it and help develop it alongside," Vernal said. "He always seemed to me generous, and when he sees something that is good and can charm the people of the world, he is happy to come in and make it happen."
Now Vernal and Sequoia are betting that Kazi will be able to turn Threads into the chatroom service for professional environments.
"On the internet, there are forums and places like Reddit, which are discussion forums," Vernal said. "This is a widely explored area of communication in the workplace. I think this is a mature area for innovation."
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