Ghost Angels: Snap Alumni Launch Fund to Shape Next-Gen Social Media
A group of 20 former Snap executives has launched a venture fund called Ghost Angels to invest in the future of social media. The initiative, founded by Max Rivera—a former global partnerships leader at Snap—seeks to support startups redefining how people connect and create online. While the fund has not disclosed its total raise, it has already invested in at least five companies and plans to allocate the remaining capital to 15+ startups over the next year.
The Vision Behind Ghost Angels
Rivera, who currently leads partnerships at Microsoft’s AI lab, formalized the Ghost Angels network to harness the expertise of Snap alumni. The fund includes 20 members, such as Alexandra Levitt, former head of Snap’s corporate accelerator, and Will Wu, a founding member of Snap’s product team. Rivera emphasized the importance of “diversity of thought” in evaluating investments, combining seasoned executives with early-career professionals.
“Founders today are building leaner teams and iterating in public,” Rivera told TechCrunch. “They’re experimenting with monetization models beyond ads, like subscriptions and usage-based pricing, and prioritizing founder-led go-to-market strategies.”
The Shift in Social Media
Rivera highlighted a growing divide between “social” and “media” in the industry. Traditional platforms, he noted, have become dominated by ad-driven algorithms, diverging from the original promise of connecting people. Ghost Angels aims to fund startups addressing this gap by leveraging AI to enhance personalization and creativity.
“On the social side, we’re backing AI-driven tools that foster meaningful interactions,” Rivera said. “On the media side, we focus on generative AI platforms that lower barriers to content creation across music, gaming, and fashion.”
Trends Shaping the Next Generation of Social Media
Recent reports, including a 2023 TechCrunch article, indicate that new social media ventures are moving away from generalized platforms toward niche communities. Ghost Angels aligns with this trend, targeting startups that prioritize user-centric models over ad-centric ecosystems.
“The next wave of social media isn’t just about connecting people—it’s about empowering them to create, collaborate, and monetize their passions,” Rivera added.
Why This Matters
As AI continues to reshape digital ecosystems, funds like Ghost Angels could play a pivotal role in steering innovation toward ethical, user-focused solutions. With Rivera’s background in AI and social media, the fund is positioned to influence how technology bridges human connection and creative expression.
For investors and founders alike, the initiative underscores a broader shift: the future of social media may lie in decentralized, AI-powered tools that prioritize community over commodification.
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