July 11, 2011
Location based services such as Foursquare, Gowalla and even Facebook allow users to check-in at their locations, share information about those places and find where their network of friends are hanging out and now advertisers will be able to take advantage of that information in a more manicured way thanks to MomentFeed and their recent round of funding that has brought the company $1.2 million.
In the most simple of terms MomentFeed allows company’s with more than one location to manage their various location based campaigns with ease. For example Macy’s may offer different specials at all of their stores throughout the United States and now they can examine how those Foursquare or Gowalla campaigns are converting sales for their stores.
The program works by pulling in merchant location data from Foursquare, Facebook, Twitter and Gowalla and then giving an easy to examine view of check-ins, deals and specific specials by location. The program also offers Factual’s location data so cross-service inquiries can be examined.
By examining how locations are converting using different services a store can adjust their campaigns. For example Macy’s could determine that Facebook Places is converting better at their New York store while their Chicago locations receive more love from Foursquare users, leaving them to adjust their campaigns to whichever platform is acting most favorable for their needs.
The LA-based startup received their new funding round from a handful of investors that include DFJ Frontier, DFJ JAIC, Factual founder Gil Elbaz, Walter Kortschak and Raplead founder Auren Hoffman. read more