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Swipp Scores Funding, Takes Aim at "Social Media Status Quo"Silicon Valley Startup Attracts Funding From Groupon Investors (June 21, 2012)
PALO ALTO, CA -- (Marketwire) -- 06/21/12 -- A new startup wants to challenge the "social media status quo," and it has just secured funds to do so.
With $3.5 million in its first institutional round, the startup -- Swipp, Inc. -- is preparing to release a new social-media platform that's "more engaging and respectful to consumers, and more effective for brands." As part of its launch -- to be rolled out in stages over the next several months -- Swipp will be inviting users around the world to test the new approach, contribute to its development, and participate in the "new social" conversation (For info on how to get Swipp, visit www.swipp.com).
"It's time to accelerate the next generation of social," said Don Thorson, co-founder and CEO of Swipp. "The users are the most important part of the network, they should get more return for their involvement, and they should be treated with the respect they deserve. Users are not just eyeballs to deliver ads to, they are actually the core value of the network. Imagine social that's not only more delightful, but way more informative. Social that gets smarter the more people use it. Social that tells us more about us as individuals, as a people, as a planet. That's the future we hope to create."
In stealth-mode for more than a year, Swipp has been developing a next-generation platform that sits at the "intersection of social media, personal data, and commerce." The company has attracted a deep bench of technologists, product developers, and marketers from companies as diverse as Apple, Nokia, Cisco, BT, and TiVo. The funder in this first round is Old Willow Partners, whose success includes early investment in Groupon.
"The intense interest in Swipp is not at all surprising," said Rich Heise of Old Willow Partners and a board director at Swipp. "The business model for social is unproven, and the company has a solution that's as novel as it is elegant. We see Swipp as not just the next thing to watch in social media, but the next generation in commerce, where consumers will be empowered to interact more openly and effectively with brands on the open Web."
Swipp will make a beta version of its platform available to a limited number of people this summer, and will release a version to the general public later in the year. For more information, and to request an invitation to the beta program, go to www.swipp.com.
Swipp is the creator of a new platform that sits at the intersection of social media, personal data, and commerce. With an approach to social that is more engaging and respectful to consumers -- and more effective for brands -- we're helping to provide a more sustainable platform for both. With offices in Silicon Valley, and with funding led by Old Willow Partners -- early investors in Groupon -- we're committed to helping people better understand the world around them while contributing to its collective intelligence. For more information, go to www.swipp.com.
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