TrueX

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TrueX
Formerly called SocialVibe
Type Private
Industry Online advertising
Founded 2007 in California
Headquarters Los Angeles, California, U.S.
Services Engagement advertising
Employees 30-50
Website Homepage

TrueX is a digital ad company founded in 2007 by Joe Marchese, Brandon Mills and David Levy.

Company history[edit]

TrueX received $4.2 million in Series A funding led by Redpoint Ventures in December 2007.[1] It was launched in February 2008 in public beta,[2] and, as of October 19, 2009, its members have raised a total of more than $700,000 for their respective charities.[3] On August 25, 2008, SocialVibe formed a partnership with Interpublic, one of its largest liaisons to date.[4][5] In January 2009, JAFCO Ventures led an initiative along with Redpoint Ventures to raise the total amount invested in the company to $12 million, as the company shifts to a revenue sharing model with the charities it represents (all of the money raised on TrueX formerly went to the charity itself)[3][6] In March 2011, TrueX closed a $20 million round of funding lead by Norwest Venture Partners.[7] In 2013 the company became known as TrueX, and between 2013 and 2014, the company doubled its revenues.[8][9] In May 2014 the company also received an additional $6 million in funding.[10] Directors of the company include James Murdoch, Mich Matthews, and Jonathan Miller.[11] The CEO of the company is co-founder Joe Marchese.[12]

Engagement advertising[edit]

Truex has worked with Microsoft, Visa, Apple, Disney, Coca-Cola, Kia, Kraft, Macys, Nestle, Procter & Gamble and Discover on online advertisements.[13] The company uses social media engagements that offer incentives for users to interact with ads in order to unlock content.[14][8] The ads take over the browser of a user's computer for about 30 seconds, and require user participation for completion.[15]

Awards & Recognition[edit]

In August 2010, Forbes recognized SocialVibe's engagement for Microsoft Bing on Zynga's FarmVille as one of the "Best-Ever Social Media Campaigns."[16] The campaign garnered over 425,000 fans for Bing in less than one day, and 70% of the fans visited the search engine in the following month.[16][17] The campaign was also won an OMMA Award for Online Advertising Creativity in the social media category in September 2010.[18]

References[edit]

  1. ^ Keane, Meghan. "Interpublic Partners With SocialVibe to Tap Into Brand Promotion on Social Networks". WIRED.
  2. ^ K.C. Jones. "SocialVibe Raises Funds For Earthquake, Cyclone Relief Information Week
  3. ^ a b Kee, Tameka (January 12, 2009). "paidContent.org - SocialVibe Gets $8 Million Second Round For Social Media "Activism"". The Washington Post. 
  4. ^ http://www.marketingvox.com/interpublic-socialvibe-go-fishing-for-brand-evangelists-040594/
  5. ^ http://www.bizreport.com/2008/08/interpublic_backs_socialvibe_to_link_social_nets_with_brand.html
  6. ^ Semuels, Alana (January 17, 2009). "Venture capitalists abandon 'spend mentality'". Los Angeles Times. 
  7. ^ http://adage.com/article/digital/socialvibe-closes-20-million-funding-round/149506
  8. ^ a b http://adage.com/article/digital/ad-fraud-creates-worry-opportunity/292565/
  9. ^ http://www.labusinessjournal.com/news/2013/nov/06/socialvibe-becomes-truex/
  10. ^ http://techcrunch.com/2014/05/21/truex-new-funding/
  11. ^ http://www.forbes.com/sites/roberthof/2014/04/17/in-bid-to-make-online-ads-more-engaging-truex-taps-power-media-trio-for-board/
  12. ^ http://www.labusinessjournal.com/news/2013/may/01/socialvibe-co-founder-returns-ceo/
  13. ^ SocialVibe: How advertising and social media can change the world. (2011, January 27). Simon Mainwaring. http://simonmainwaring.com/social-networking/socialvibe-how-advertising-and-social-media-can-change-the-world/
  14. ^ SVnetwork Incenting Consumers With Self-Selecting Social Ads Says CEO Samit. (2010, October 14). AdExchanger. http://www.adexchanger.com/ad-networks/svnetwork-incenting-consumers-with-self-selecting-social-ads-says-ceo-samit/
  15. ^ http://mobile.nytimes.com/blogs/dealbook/2014/04/16/james-murdoch-joins-board-of-advertising-start-up/?_php=true,true&_type=blogs,blogs&action=click&module=Search&region=searchResults&mabReward=csesort:h&url=http://query.nytimes.com/search/sitesearch/%3Faction%3Dclick%26region%3DMasthead%26pgtype%3DHomepage%26module%3DSearchSubmit%26contentCollection%3DHomepage%26t%3Dqry950%23/murdoch&_r=1
  16. ^ a b Best-Ever Social Media Campaigns. (2010, August 17). FORBES. http://archive.is/20130123221253/http://www.forbes.com/2010/08/17/facebook-old-spice-farmville-pepsi-forbes-viral-marketing-cmo-network-social-media_slide_19.html
  17. ^ Bing's Virtual Bling Buys Facebook Fans. (2010, March 4). Brandweek. http://www.brandweek.com/bw/content_display/news-and-features/incentive/e3ic70c834af0ab2460c16c05fd01736a5d
  18. ^ OMMA Awards 2010 Winner: Online Advertising Creativity, Social: Campaign category. (2010, September 27). OMMA. http://www.mediapost.com/events/?/showID/OMMAAwards.10.NYC/type/AwardWinner/itemID/1663/OMMAAwards-Winners.html

External links[edit]