Got Funds? Monetate and Shoutlet Win Investor Hearts, Cash
ADOTAS – Call it more fuel for the tech bubble gossip fire: both Monetate and Shoutlet started the week with impressive hauls from the funding circuit.
Website testing, targeting and personalization service Monetate received $5.1 million in funding from First Round Capital, Floodgate Fund and other investors. The company, which already boast positive cash flow, will put the money toward meeting the increasing for its services.
Shoutlet, a social media platform builder, took home $6 million in a Series B round led by American Family Insurance with the participation of Origin Ventures and Leo Capital Holdings. The funding will go towards improving the company’s platform, which facilitates Facebook and Twitter management, social CRM, and widget-building for promotions, coupons and sweepstakes.
Reader Comments.
Welcome to the new age of spam…social media marketing?!?!
I doubt the Shoutlet founders are aiming for sustainability. They will scrape their way to profitability and then sell out to a bigger player to line the pockets of the founders and investors. I’m not saying there’s anything wrong with that…it just annoys me that these companies even generate news coverage.
Look at Jellyfish.com (where Shoutlet got it’s COO Aaron Everson). Their “revolutionary” cost per action advertising model and returning ad revenue to the customer concepts went nowhere. Microsoft Live search (based on the acquisition of Jellyfish) lasted for what, six months? These people would be called con artists in any other age, but in the digital age we call them “start-up executives” or “digital entrepreneurs.” It’s laughable! Oh well, more power to ‘em. Just my $.02.
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