Blog Post

SocialMedia Raises $6 Million For Widget Ad Network

Social media-based ad network SocialMedia has picked up $6 million in a second round of funding. IDG Ventures and previous backer Charles River Ventures led the round, bringing SocialMedia’s total raise to $9.5 million. The SF-based company launched in 2007, and has since run app-based campaigns for brands like P&G, Coca-Cola and Diesel on Facebook and MySpace.

CEO Seth Goldstein told VentureBeat the company brought in revenue between $15 million and $20 million on such campaigns, which ask members brand-related questions (like whether they’ve seen an upcoming movie trailer or which mouthwash they’d prefer their partner used); the ads gain exposure through profile status updates. SocialMedia’s ads compete with app-based campaigns from companies like Slide; they also compete with Facebook and MySpace’s own “engagement” ads. More details in release here.