Kyle
Baltimore startup Social Toaster seems to be on the cutting edge of monetizing social media distribution. There are a lot of companies in the same space as Social Toaster but none some to be executing with the same results.
The concept is pretty simple. If you have are a digital publisher or major brand Social Toaster helps you register ambassadors and super fans. These people are charged with helping to get your message out to the world, and because their fans, they do just that. Ambassadors and Super Fans are the type of social media folks who carry a lot of weight. How much?
Well according to Social Toaster’s CEO and Founder Brian Razzaque, “One of our clients told us that with 60,000 ambassadors, we were more effective than their Facebook page of 2 million.” he told the Baltimore Sun
In fact, one of Social Toasters clients is the Baltimore Ravens. The Ravens use Social Toaster for monthly media sharing contests which help their content go viral.
This isn’t a fly by night operation or a flash in the pan. Social Toaster has been perfecting their craft. Last year their sales were $300,000 this year they are projecting $2 to $3 million in sales. That’s why Razzaque was able to announce last week that the firm had completed a $1.975 million dollar series A round.
The round follows a seed round in 2011 from Neuberger Ventures and other individual investors.
Blu Venture Investors led Social Toaster’s latest round, Baltimore Angels, Wasabi Ventures, and Piedmont Investment Advisors also participated.
Razzaque plans to double the headcount from 22-50 and also plans moving the company to larger offices to Clipper Mill with about three times the office space they are currently operating out of.
William Militello, Founder of Piedmont Investment Advisors, LLC commented, “I am always excited to fund great entrepreneurs. I believe that true innovation occurs when skilled labor, intellectual capital, and entrepreneurs with great ideas are combined with the financial capital Piedmont can provide.”
Paul Silber of Blu Venture Investors, said, “our team was really attracted to SocialToaster’s novel “message amplification” solution, to the company’s leadership, and to the fact that they were rapidly gaining traction with recognizable name-brand customers. We liked the fact that their software solution offered a cost-effective and simple way for organizations of all kinds to effectively use social media to get their message out to a wider audience.”
Linkage:
For more info on Social Toaster visit them here at socialtoaster.com
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Source: Baltimore Sun
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