LocalResponse Acquires Philo to Bolster Engineering Team and Leadership in the Social Advertising Space
New York, NY, August 5, 2011- LocalResponse, the first social advertising platform that aggregates public posts and “check-ins” across multiple platforms to help brands and businesses reach their customers, announces today its acquisition of Philo Media Corporation (Philo), backed by North Bridge Venture Partners, DFJ Gotham and angels in digital media and entertainment. Philo was a leading check-in service for television before its pivot to Reach.tv, helping television and theatrical studios disseminate advertising to consumers across social media during tune-in.
“We are very pleased to have found a new home to connect the social TV and check-in ecosystem,” says Philo CEO David Levy, who will become an advisor to LocalResponse. “We have been consistently impressed with LocalResponse’s product offerings and the team is excited to catalyze the LocalResponse platform.”
“Philo’s pivot into the social advertising space was so interesting we had to take a close look” says LocalResponse CEO, Nihal Mehta. “The Philo engineering team, particularly the leadership abilities of CTO, Jessica Lowe, will help LocalResponse satisfy increasing customer demand and take our platform to the next level.”
LocalResponse recently signed its 25th major advertiser to its brand platform, which helps brands and advertising agencies respond to a consumer in time and place context across social media, and soon across new location-targeted, real-time distribution channels. In July, LocalResponse revealed some results of its first, major brand campaigns, with remarkable statistics, preforming 100 times better than traditional online media buys, including a 60% redemption rate.
Philo’s Chief Technology Officer, Jessica Lowe, will become the new CTO of LocalResponse, and two other developers, Christopher Sanson and Brian Renzenbrink, will join the LocalResponse engineering team in New York City. “It’s an exciting space at an exciting time” says Jessica Lowe. “I’m extremely happy to be here to break new ground for social advertising.”
About LocalResponse: LocalResponse is a social advertising platform that aggregates public posts and “check-ins” across multiple platforms to help brands and local businesses reach their customers. LocalResponse enables brands and agencies to leverage this real-time inventory for mobile activation. LocalResponse empowers local businesses to manage their customer relationships through a self-serve web interface at http://www.localresponse.com. LocalResponse is backed by Verizon Ventures, Metamorphic Ventures, Extreme Venture Partners, Charles River Ventures, BOLDstart Ventures, Jim Pallotta, Greycroft Partners, and several others and is based in Chelsea, NYC.
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