For Local Commerce Startups Like Homejoy, A Choice of Whom to Disrupt
Airbnb’s recent decision to become a hospitality brand has deep implications for a growing segment of startups that have built similar digital marketplaces for a number of traditionally offline industries. Today, these startups face a similar ontological decision: should they become a consumer brand, expanding deeper into a given industry, or should they expand horizontally, working to disrupt Yelp, Google and the other more horizontal mainstays of local search and discovery…
Why One Investor Thinks Foursquare Has a Future in Ad Tech
Add this to the interesting-but-never-going-to-happen suggestion box for Foursquare: ditch the consumer business altogether. Nihal Mehta, a New York-based entrepreneur-turned-investor, thinks that Foursquare might find a bigger business by bailing on its local search ambition to put its algorithm to work as an attribution product for mobile advertising…
Street Fight Daily: Google Maps Adds Uber, Square Expands Partnerships
A roundup of today’s big stories in hyperlocal publishing, marketing, commerce, and technology… Google Maps On Mobile Gets Uber Integration And More (TechCrunch)… Square Partners With Inventory Tracking Service Stitch Labs (Fortune)… New Google Now Feature Aims at Amazon (Wall Street Journal)…
Two Years After Private Equity Carve-Out, What’s Next for YP?
Two years ago, AT&T shed its local marketing business, selling a majority stake in its print and digital yellow pages assets to Cerberus Capital for $950 million in cash and debt. During a conversation with Street Fight, the company’s CEO David Krantz said the company is well-ahead of where its private equity parent expected it would be, and discussed how YP planned reprise its role as a leading consumer brand…
Shopify CPO: Next 5 Years Will Be More Exciting for Retail Than Previous 150
This May, Street Fight will take a look at the companies, technologies and ideas that are shaping the way we buy and sell goods in the real-world. To kick-off the series, we caught up with Harley Finkelstein, chief platform officer at Shopify, to discuss the blurring line between e- and local commerce…
In Foursquare’s ‘Unbundling,’ Does the Tail Wag the Dog?
Foursquare announced plans Thursday to spin off the company’s trademark social networking service into a separate app and focus its branded application entirely on local search and discovery. The move — what the company has called ‘the unbundling’ — represents a pivotal adjustment by Foursquare to the sensitivities of a mainstream consumer in an increasingly connected real-world experience…
What Roadside Assistance Can Tell Us About the Future of Local Search
Urgently, a Washington D.C. startup, has built an application that allows drivers to request, and pay for, a nearby tow truck or automotive technician, and then track the provider as they come to their destination. The service is one of handful new companies, which are working to apply the on-demand model developed by the taxi hailing company Uber to a range of traditionally offline, and often backwater industries, like repair.
At Microsoft, a Renewed Push for Small Business
Over the past year, Microsoft has managed to grow Bing’s market share — albeit, marginally — while investing in expanding its advertising presence among small business. Part of the effort is to use its search business as a springboard to bring advertising to a host of other platforms, many of which have never before been a home to ads…
After AOL’s Hyperlocal Fail, Media Watchers Pin Hopes on Smaller Operations
With a number of once-promising large-scale hyperlocal media projects laying in ruin, local media’s star has faded a bit over the past year, causing many industry watchers to frame local journalism as a pursuit defined by a social need, and burdened by an unfriendly market reality. The vision of the $150 billion market opportunity has been replaced with a social ethic — the need for small, independent operations to create self-sufficient clusters in their communities…
Newspaper Companies Make Another Big Investment in a Circular Startup
Gannett, Hearst, Belo, and others have invested another $15 million in Wanderful Media, a service that digitizes and distributes the millions of merchandizing ads that go out every weekend in local papers across the United States. The deal, which brings the startup’s total funding to over $50 million, highlights the newspaper industry’s struggle to find an answer to a depreciating revenues after technology companies have picked off many of its valuable assets…
Connectivity Raises $6 Million to Make Marketing Automation Work for Small Businesses
The Los Angeles-based startup has raised $6.35 million in funding to help small businesses structure and draw insights from digital interactions. The company is developing software to identify and analyze references to brick-and-mortar businesses in social media, reviews and other user-generated content, and then aggregate that data into a dashboard for small businesses to monitor their presence online…
Shopkeep Raises $25M to Build a Better Cash Register for Indie Retail
The New York-based startup that builds point-of-sale software for mobile devices has raised $25 million in its third round of funding. The new capital thrusts the company to the forefront of a busy pack of upstarts looking to rethink the point-of-sale. It also sets the stage for a drawn-out fight between a handful of well-funded startups, the legacy point-of-sale providers who control much of the market, and a number of other tech giants looking in…
Yext Says It Will Be Profitable By 2015 — Here’s How
Over the past 23 months, the New York-based startup has silenced critics, turning the listing-synching concept into a cash cow that helped the company generate over $34 million in revenue last year. In an interview last week, Yext CEO Howard Lerman told Street Fight that the company expects to generate $56 million in 2014, and hit $85 million — and profitability — by 2015.
Street Fight Daily: Airbnb Clashes In Court, DeliveryHero Raises $85M
A roundup of today’s big stories in hyperlocal publishing, marketing, commerce, and technology… New York’s Case Against Airbnb Is Argued in Albany (New York Times)… Delivery Hero Gobbles Another $85M To Fuel A Price War With Just-Eat (TechCrunch)… Facebook’s “Nearby Friends” Must Work Against the Historical Failure of People Discovery (GigaOm)…
xAd CEO: Small Businesses Still a ‘Huge, Huge Market’ for Ad Tech
Location marketing company xAd, which started as a search advertising firm five years ago, generated over $65 million in run-rate revenue by the end of last year, half of which came from small and medium-sized businesses. Street Fight recently caught up with the company’s chief executive Dipanshu Sharma to discuss the challenges in finding recurring revenue in mobile, how location can solve that problem, and where the money would come from to build a lasting local advertising company in mobile…
In Run-Up to IPO, Yodle Makes Its Bet on Local Marketing Automation
Last week, the Wall Street Journal reported that local marketing firm Yodle was shopping for banks to underwrite a potential public offering. In an interview with Street Fight, Court Cunningham, chief executive at Yodle, declined to comment on the reports, but talked about the the evolution of the small business marketing space, the rise of local marketing automation, and the subsequent push by these companies to bundle services into an integrated product…
Facebook’s Levy: ‘No Singular Event’ Triggered Decline in Businesses’ Organic Reach
According to multiple reports, the social networking company has “slashed organic page reach,” reducing the number of users which can see a business’s photos, posts, and updates. In a wide ranging interview with Street Fight, Dan Levy, director of small business at Facebook, talks about the decline organic reach for businesses, the evolving relationship between marketer and consumer, and the company’s unique challenge of managing 25 million business clients…
Mobile Ad Revenues Growing Faster Than Previously Expected
A new study from BIA/Kelsey finds that mobile advertising revenues may be picking up at a faster clip than previously thought. In the U.S. Local Media Forecast, the research firm projects that mobile ad spending in the U.S. will rise from $7.22 billion in 2013 to $25.47 billion in 2017, a 20% increase from what the company projected last year. Meanwhile, the share of mobile ad spending spent on locally-targeted ads continues to grow as well — albeit at slightly slower rate than previously expected…