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IRL (company)

IRL (company)

IRL was a social media company with the purpose of connecting users in real life, or "IRL," through in-person events.

OverviewStructured DataIssuesContributors

Contents

irl.com
Is a
Company
Company
Organization
Organization

Company attributes

Industry
Social network
Social network
Social media
Social media
Event management
Event management
Location
San Francisco
San Francisco
5
B2X
B2C
B2C
CEO
Abraham Shafi
Abraham Shafi
Founder
Scott Banister
Scott Banister
2
Krutal Desai
Krutal Desai
2
Abraham Shafi
Abraham Shafi
2
Henry Khachatryan
Henry Khachatryan
2
Pitchbook URL
pitchbook.com/profiles...229904-38
Investors
‌
Joe Drake (entrepreneur)
7
Founders Fund
Founders Fund
1
Goodwater Capital
Goodwater Capital
1
Raine Ventures
Raine Ventures
1
Floodgate (venture capital firm)
Floodgate (venture capital firm)
1
Dragoneer Investment Group
Dragoneer Investment Group
4
Kleiner Perkins Caufield & Byers
Kleiner Perkins Caufield & Byers
13
‌
SoftBank Vision Fund 2
4
...
Total Funding Amount (USD)
370,000,000
198,000,000
Latest Funding Round Date
September 16, 2021
June 15, 2021
Competitors
Sunsama
Sunsama
Former CEO
Abraham Shafi
Abraham Shafi
5
Latest Funding Type
Series C
Series C
Latest Postmoney Valuation
1,170,000,000

Other attributes

Blog
blog.irl.com
Company Operating Status
Closed5
Postmoney Valuation
1,170,000,000
Latest Funding Round Amount (USD)
170,000,000
Launch Date
2018
3
Overview

IRL was a social media company with the purpose of connecting users in real life, or "IRL," through in-person events. The company was founded by Abraham Shafi, Scott Banister, Krutal Desai, and Henry Khachatryan. IRL was launched in early 2018. It reached unicorn status in June 2021 after raising a $170 million series C round led by SoftBank Vision Fund 2. IRL was shut down on June 26, 2023, after it was revealed that 95 percent of the company's twenty million users were automated bots.

History

IRL was founded after cofounder Abraham Shafi realized that popular social media apps made him feel disconnected from his friends and family. He designed IRL with the purpose of connecting people in real life––hence the company's name––instead of just virtually. Shafi stated that IRL was "the only ‘social’ app designed to help you get off your screen and go out to be sociable.” IRL allowed users to plan in-person events and invite their friends via phone number. Other features made available over time included two-way sync for Google Calendar, group chats, user profiles, and event categories.

The big vision that we’re going for is building the WeChat of the West—a messaging super social network. And it starts with people organizing groups and doing things together.” –Abraham Shafi

IRL was launched in early 2018. It received some negative attention shortly after its launch for its text message notifications to unregistered users. The texts were reported to contain links to the IRL app with messages such as “Someone complimented you. See more on IRL,” and "A classmate nominated you. Find out who voted for you." The vague content of the message and unknown link led many recipients to believe they were receiving links to a virus or other malicious threats. A viral tweet posted in August 2018 claimed that the texts were a front for a sex trafficking operation and that clicking on the provided link would reveal "all your information," including the phone owner's location. Abraham Shafi responded to the claim, saying it was "absolutely false" and that there had been zero reports to the company regarding any such events. He also stated that sensitive information is unable to be obtained through the app. IRL attempted to contact the tweet's author unsuccessfully, and the viral tweet was later deleted, as was the account behind it. The company stated that SMS messages are sent when an IRL user invites a phone contact to an event, sends a compliment, or adds them as a friend on the platform.

IRL faced some trouble in 2020 at the start of the Covid-19 pandemic, when in-person events across the globe were canceled and social gatherings were discouraged. The company pivoted to marketing virtual livestreamed events, such as concerts, eSport games, and Zoom parties in partnership with companies like Live Nation, Ticketmaster, Eventbrite, Twitch, YouTube, TikTok, and Spotify. This change caused IRL's business to grow, as virtual events are available to a wider audience. In June 2021, IRL claimed its user base had grown 400 percent since the beginning of 2020.

IRL reached unicorn status in June 2021 after raising a $170 million series C funding round. At this point in time, IRL claimed to have twenty million total users, with twelve million active monthly. Seventy-five percent of users were said to be from Generation Z, and the majority were teenagers living in middle America. Doubts about IRL's claim of twenty million users first surfaced in May 2022 when multiple employees said the figure was unlikely to be that high. One month after the allegations surfaced, CEO Abraham Shafi laid off approximately 25 percent of IRL's staff. In December 2022, the United States Securities and Exchange Commission (SEC) launched an inquiry into IRL to find out if the company misled its investors. Former IRL employee Nicholas Grant filed a legal complaint against the company in April 2023, claiming that he and other employees were fired in retaliation for raising concerns about IRL's inflated user count.

In April 2023, CEO Abraham Shafi was suspended due to alleged misconduct. On June 26, 2023, it was announced that IRL would be shutting down after an investigation by the board of directors revealed that 95 percent of its twenty million accounts were automated. The actual number of users was revealed to be around one million. IRL will be dissolved, and the majority of its assets will be moved into a liquidating trust. The IRL app was formally shut down on June 27, 2023, at 12 p.m. PDT.

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Products

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SBIR/STTR Awards

Patents

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