Anonymous sharing and secret-spilling app Whisper is riding a high wave of interest to another round of funding, as Recode reported Tuesday the company is currently raising another $30 million just six months after their first funding round.
The round was reportedly led Shasta Ventures, with Thrive Capital and Tencent participating. According to Recode, the round would bring total funding to date to $51 million, and value the company at $200 million.
Whisper’s main ticket seems to be its popularity with young adults on college campuses, although it has faced increased competition from the San Francisco-based Secret — which, coincidentally, is also reportedly in the process of its own funding round. The key to Whisper’s success lies in growing quickly and efficiently enough to drive out that competition, and that’s something it has struggled with in the past.
In February, the company was smacked with a lawsuit that accused the company of using spammy text messages, misleading users to believe that other users were talking about them on the website. This fast and loose “growth hacking” style could potentially cost the company $500 per every message sent.
I reached out to Whisper for confirmation of funding, and Eric Yellin, SVP of Content, declined to comment.