ShopIt, a social commerce platform that enables people to set up an online store and sell goods through a variety of social networking services, has finished integrating its recently acquired Triana Global publisher network and relaunching it as ShopIt Media, another social advertising platform.
Like many others, Triana Global claims to have been one of the first ad networks that started focussing on monetizing facebook applications after the social networking service started opening up for outside developers with the launch of Facebook Platform back in May 2007. Its biggest competitors are Adknowledge (which recently picked up both Cubics and Lookery Ads), Social Media, Offerpal Media and Appssavvy.
The service has managed to stay largely under the radar since its launch, and even when they started guaranteeing floor CPM rates of $0.15 and $0.08 CPC rates on standard banner sizes for new developers joining the network they seem to have gotten the silence treatment and were also downright criticized for developing their own Facebook apps besides acting as a social advertising network. It didn’t help that Triana Global claimed to have hundreds of applications in their network, which they later expanded to other social networks like MySpace, hi5 and Bebo, but never published a portfolio or customer reference list.
Either way, apparently the company was acquired by ShopIt in October 2008, and that startup is now relaunching the service as ShopIt Media, essentially providing a way for their users (1 million according to the company) to market the products they have for sale across a multitude of social communities. New publishers are being wooed with a 80% revenue share for all campaigns on Facebook, Ning, MySpace, hi5, Bebo and Orkut that are kicked off in February.
Acquisition price?
“apparently the company was acquired by ShopIt in October 200″
No doubt this deal was started before the decline of the economy and good faith carried it through as the market started to slide.
If i were the exec on the side of shopit, I would have been like “well, our due diligence has shown something astounding” __INSERT_SOME_IP_RELATED_REASON_HERE__ … “well, it was real, see ya”
Then built it internally.
But hind sight is 20/20
It’s also pretty crappy that a company in Los Angeles would have bought Australian IP when we just lost 600k jobs.
I don’t think I’ll be supporting them by using their services.
Curtis Jackson, a.k.a. 50 cent was part of the success of ShopIt taking off. Alot of ppl don’t know that
Just wanted to add Ad Chap to your list. We started our social ad network on facebook in Oct 2007.
ShopIt is really nicely made. Clever stuff.
The name is just too close to “StopIt”.
Robin – I’m surprised you missed a couple of major competitors. I guess its difficult given such a new market. As a serious app developer, I have tried ALL the networks out there. The top 3 are AdKnowledge, AdParlor, and Rockyou Ads. Nothing else comes close – and yes I have tried social media, appsavvy, triana…
50cent was not personally a part of Shopit. His new media team were early adopters.
ANOTHER social ad network…uugghh
i’ve been using rawclix for the last 5 months to monetize my fb apps, and have been very happy with them
It would be interesting to find out if 50 or any of his agents know anything about ShopIt, and how much of the information about Shop It or Rocky Mirza’s companies is PR buzz that was created by an unrelated party.
May it be emphasized any business man or venture capitalist to perform their due diligence.
Stated numbers for any business should demand solid back up;
and ALL and ANY PR should be reviewed with a fine toothed comb.
As should affiliated companies.
Contact people who have ceased working with him on their own accord and inquire why.
A wise investor always reduces their risk