Social Reality Inc.
Social Reality, Inc. is an Internet advertising and marketing technology company. It specializes in developing tools that automate online advertising and digital marketing activities.
History
In March 2010 the CEO Chris Miglino together with the CIO Erin de Ruggiero started selling advertisement on Facebook with the aim of helping Facebook applications monetize their products and assess brands marketing. The founders felt there was a socially responsible way for brands to promote and sell their products and create an huge impact on their income. In Los Angeles, where the headquarter is located, the company grew from selling ads to developing customized applications for large brands. From that, it developed GroupAd that offers different applications to different brands. Therafter, to better help publishers fill out their inventory they built a RTB (Real Time Bidding) platform. Early on Social Reality recognized that programmatic advertisement would become The Primary and preferred method for buying and selling internet advertisement and so it was an early adaptor and contributor to the space.
Products
Social Reality learnt quickly that more consumers are likely to engage when they receive an immediate reward. Early on these rewards were oriented to non-profit donations on behalf of brands through their social marketing campaigns. Social Reality took this reward model expanding on it and built the GroupAd platform on top of it. At its core GroupAd is a brand loyalty platform that provides instant rewards and feedbacks for consumers. The backbone of loyalty shows brands who their influencers are so that they can utilize this information to further hence their marketing efforts. GroupAd as a consumer facing product is a suit of marketing applications.
The second product released by the company is SRAX, a platform built to aggregate and optimize the disperse real time budding channel so that publishers could utilize this revenue channel more effectively. Early on it focused on the selling side of the programmatic market and it built its capabilities and expertise on the buying side as well by developing state of the heart algorithm and practices to optimize the bid and targeting relationship.
Both Social Reality businesses complement each other. Brands' advertisement attain their social marketing campaigns through traditional media purchased through the buy side of the SRAX platform. GroupAd provides extensive audience data that brands can target for their ads through the SRAX platform. Ultimately SRAX and GroupAd merge toward Social Reality vision which is to both automate and make digital ads available, affordable and efficient for all brands' markets and businesses of any size.
Financing
Social Reality was profitable from its inception and utilizing the money to fund the growth of the company. Instead of seeking traditional Venture capital funds for the company, Social Reality decided to list the company in the US Over-the-counter market. It went public in October 2012 and by January 2013 it raised approximately $5.2 billion through various public offers. This form of financing has abled the company to establish a consistent capable source that allowed it to grow a lot.
Company overview
The company headquarter is in Downtown Los Angeles, in the Arts District. Social Reality also operates offices in Minneapolis and in Mexicali, Mexico. As of June 2014, the company employed 53 people.
References
"Social Reality, Inc. Reports 40x Revenue Increase For Q 4 2013", prnewswire. Retrieved on 14 June 2014.
"Social Reality, Inc. REPORT", otcmarkets. Retrieved on 14 June 2014.
"Corporate Profile, Social Reality, Inc.", Wallstreet research. Retrieved on 15 July 2014.
"When social gaming meets social good", Mashable. Retrieved on 15 July 2014.
"Social Reality Announces That Their Securities Are DTC Eligible", Barron's. Retrieved on 17 July 2014.
"America's Startup Live", Silicon Beach Clearly. Retrieved on 17 July 2014.
"California! Here we come!", Via Sarfatti 25. Retrieved on 29 July 2014