PitchBook sat down with the co-founders of Tagboard to talk about their company, future plans and the industry they operate in. Watch the In the Spotlight video above.
Social media has grown incredibly over the past 15 years, changing the way we consume and share information, as well as the speed at which information becomes available to us. Social media has revolutionized how we receive news, connect with friends, discover content and so much more. It has become so prevalent that some of the largest companies in the world now exist within the space, and more pop up each day. Social media has also spawned new industries of companies that help us make sense of the massive amount of social information available.
One such industry worth noting consists of companies that aggregate data from the social Web and organize it into one platform. This type of technology serves several different purposes. First, it allows users to curate information from multiple social sites, expanding the range and type of content they are able to consume. This is just how companies like Pinterest, Imgur, Digg and Reddit operate. Second, it allows companies to analyze their social marketing success by providing comprehensive metrics rather than performance analysis just on Twitter or Facebook. Third, it allows companies to drive user engagement and generate brand awareness by propelling the social conversation through concerts, sporting events, television and more.
Let’s explore some companies within this space to see just what they do and how much attention they’ve received from VC investors. We’ll focus on the lesser known companies instead of household names like the previously mentioned Pinterest, Imgur, etc.
Tagboard is a hashtag-based software platform that aggregates social media information from multiple networks into one visual format for end-users, brands, agencies and marketers. It offers turnkey tools designed to enable users to filter for positive influence, amplify engagement and showcase branded experiences. The company, which is angel backed, is currently in the process of raising a Series A financing round.
Scoop.it enables professionals, small businesses, educators and non-profits to share important ideas with the right audiences, to reach a large audience, feed relevant content to their social media channels and build a meaningful Web presence. The company, initially seeded with $1 million, raised $10 million of Series A funding in 2011 before securing an additional $2.6 million in July 2013. Its investors include Partech International, Elaia Partners and Orkos Capital.
Flipboard is a social magazine designed to transform how people discover, view and share content across their social networks. With more than 3 million unique digital magazines, readers can find customized content based on virtually any topic, from Larry King’s Heart Health to The DIY Home. Flipboard first raised $10.5 million at a $34 million valuation in 2010. That valuation jumped to a whopping $917 million when the company raised its third financing round—a $100.5 million Series C—in December 2013. Flipboard is backed by some big-name firms, including Kleiner Perkins Caufield & Byers, SV Angel, Insight Venture Partners, Comcast Ventures and Index Ventures, among others.
Datasift enables companies to aggregate, filter and extract insights from the billions of public social conversations on Twitter, other leading social networks and millions of additional sources. DataSift provides access to both real-time and historical social data to uncover insights and trends that relate to brands, businesses, financial markets, news and public opinion. The company’s investors include Upfront Ventures, IA Ventures, Insight Venture Partners, Scale Venture Partners and Northgate Capital, among others. Datasift most recently raised $42 million of Series C funding in December 2013 and has raised $72 million to date.
Storify provides a platform that allows media organizations, publishers and brands to deeply integrate social curation into their site. It allows users to turn social content from various sources into compelling stories that can be embedded anywhere. Storify raised $2 million of Series A funding from Khosla Ventures in January 2011, then in September 2013 was acquired by Livefyre.
Featured image courtesy of Wikimedia Commons user Gavin Llewellyn.