Placecast Gets $3 Million More For Location-Based Ads
Location-based ad startup Placecast has added $3 million in additional funding. The company says it will use the cash to expand its ‘ShopAlerts’ service, which sends people promotional text messages when they’re near a specific retail location. (It’s all opt-in). This is a double hot space — with both Google (NSDQ: GOOG) and Apple (NSDQ: AAPL) buying up mobile ad networks and with ‘location’ seemingly replacing ‘real-time’ as the buzz word du jour.
And indeed, in its announcement, Placecast takes the highly unusual step of mentioning a specific company that theoretically could be interested in acquiring it. Talk about chutzpah! (From the e-mail a representative sent us: “The 451 Group’s mobile analyst, Thomas Rasmussen believes the next mobile ad M&A will happen with a location twist. He predicts someone like Nokia (NYSE: NOK) will want to buy a company like Placecast.”)
This is an add-on to the $5 million round the company raised only five months ago. The cash is coming from existing investors, Quatrex Capital, ONSET Ventures and Voyager Capital.
“with ‘location’ seemingly replacing ‘real-time’ as the buzz word du jour”
Location information is real-time. The adverts the service your story is about could not possible be up-selling sales an hour after you pass by the store.
Of course. But I find it hard to imagine that anybody would describe Placecast primarily as a ‘real-time’ startup, rather than a ‘location’ one. I’m referring to the fact that last spring/summer everybody seemed to be talking about ‘real-time’ startups. Now the hot term is ‘location.’
Understood. Since one of the projects I am working process real-time info around location I was confused by the call out and the context. I would say the service would be location based to your point.
The currency however is real-time data. I was trying to point out that is not a zero sum game, not an either/or. They are coupled together for a new aggregate value. Real-time is a bit of a buzz term granted, but make no mistake it’s value is here to stay and will be a part of the functionality of many things.