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Start-up Company Receives $6.5 Million in Funding
January 28th, 2011 1 comment
Crowd Factory, a start-up company founded in 2009 and based in San Francisco, CA, is the very first corporation in delivering to the customers’ acquisition solution that monetizes the social activity by connecting to the conversation data. Some of its clients include Universal, The Golf Channel, HBO, Sony, Billboard and McAfee.
On the 26th of January, 2011, Crowd Factory announced that it raised $6.5 million in venture funding. This second funding round of the company was led by Storm Ventures, with the participation of Peninsula Ventures, Hummer Winblad and other angel investors that participated to this funding. The money will be used to support the development and marketing of the social marketing messages of the company.
Chief Executive Officer, Sanjay Dholakia, says that “Every time somebody pushes that link or element out to their social network, we get 10 more people back. We want to be able to track that all the way down to a conversion in terms of pure dollars.”
The company wants to be differentiated by numerous applications that synchronize with the information that the service brings in. For instance, Crowd Factory has a social offer app that encourages the visitors on the website to share the transaction with their friends and acquaintances if they wish to receive a bigger discount.
The company’s service is an html label that is dropped at the foot of a web page that enables its visitors to share the content of it with the social network, together with Twitter and Facebook. Crowd Factory follows the path of the link where it is shared and the people who click on it. Furthermore, the users can drop the label into their email messages and other pages. Crowd Factory allows sellers to optimize and increase their campaigns, for example, taking a contest from a brand and socialize the campaign, amplifying the interactions and responses.
Crowd Factory has had another round of funding worth of $5 million that was used for building up of a service and introducing numerous apps. The latest funding round is cogged towards the marketing of the company to other important companies.
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