AKG Technologies owned social media marketing company, SocioSquare has raised $325,000 from angel investors in US, UK and Turkey with the round of investment being led by Dr. David Bell, Professor at the Wharton School. While the company hasn’t disclosed other angel investors in this round, it already has angel investors like Ross Group, Bimohit Bawa, Jie Dong, Manish Singh, Karthik Hosanagar and Peter. F. Gardner.
ROI in Social Media: The company plans to use the investment raised to launch new social media products targeted towards social advertising. It is also noted that one of these products is built on top of Facebook’s Ads API and the company plans to roll out this product next month and extend it globally by end of this year.
There seems to be a shift in focus on measuring ROI in social media. This could be a positive sign for the entire online advertising business considering that this has been a major pain point that advertisers had trouble addressing so far. However, the effectiveness of measuring ROI would also greatly depend on the kind of product that is being developed by the company.
Another player in this space is Tookitaki which is looking at improving ROI for online advertisers through its real-time analytics around online buying behaviours and had recently raised $200,000 from a group of investors including Blume Ventures, India Internet Group, Harvard Angels and Centre for Innovation Incubation and Entrepreneurship (CIIE) Ahmadabad.
NyooTV: SocioSquare currently offers services such as social media advertising & fan engagement; Social Media Optimization; analytics; SEO; web & social application developmentl; digital media planning and buying and email marketing. The company currently handles Social media for brands such as The Mobile Store, Zee Group brands, Times Music, 99acres.com, Hokey Pokey Ice creams, among others.
When we checked their website, we also noticed that AKG Technologies also has a video streaming platform, NyooTV which provides free content on the web and mobile. Founded in 2009, NyooTV offers content across different genres including movies, TV shows, entertainment, sports and blog aggregated from across producers like including Shemaroo Entertainment, ENCORE International, Amar Chitra Katha, EROS International, among others. The company is also in the process of building mobile applications across different platforms.
Other players in this space:
In June 2013, social Media analytics startup Parakweet had raised $2 million in an angel funding round from Scott Banister (an early investor in PayPal), Alan Braverman (co-founder of Yammer), David Jeske (ex-director of engineering at Google) and Vikas Taneja (senior partner and MD of The Boston Consulting Group), and other unnamed angel investors.
In August 2012, data analytics and personalization services based startup iKen Solutions had raised an undisclosed amount of funding from India Innovation Fund. As part of the deal, Sharad Sharma, former Yahoo R&D India CEO and Ashwin Raguraman, Vice President, India Innovation Fund will join the board of iKen Solutions.