Oct
15
CapVenture comes to a close
Filed Under fundraising
Another chapter in the Event Seek story came to a close last week as we finished up the CapVenture program. My experience with the seven week boot-camp-esque program was very positive. For the duration of the program I spent time each week working on our business plan, investment materials, and general message to investors and clients. If that wasn’t enough, we had the pleasure of working with Doug Hadaway (newly of Multicast Media), who provided honest, open, and sometimes hard to swallow feedback. With Doug’s help I was able to re-craft our company story. A whole years work boiled down into a few hundred words.
Event Seek provides a private label event calendar service for media providers, increasing online revenues through personalized event recommendations and targeted advertising. In simple terms, we make it possible for your favorite newspaper, tv station, or radio station to have a great local events calendar - and make significant revenue while doing it!
We provide a much needed lifeline to media providers. With offline revenues rapidly declining, consumers moving online, and advertising dollars following quickly behind, media providers are looking for a way to become relevant in the age of the internet. The local newspaper is no longer the go-to source for national news - CNN.com is. You don’t get your business updates from the CBS affiliate, you go to WSJ.com. Even amid these troubles, local media providers have something you want that you can’t get anywhere else - local content. News, stories, information, and events! Events are timely, geographic, and rapidly changing - so our customers need a new way to tackle this tricky content in a way that drives traffic and revenue. Enter Event Seek!
By helping our customers use events to create an online community, we drive new revenue. Our customers can sell advertising, earn ticket commissions, and even sell specialized event placements to event organizers. Event Seek goes beyond these obvious revenue opportunities however to create meaningful profit dollars. Using our personalized event recommendation engine, we track consumer preferences and interests. Just as Amazon can recommend products you might like, we can recommend events. This same technology allows us to create unique profiles for each user and study them and their behaviors and habits. With detailed consumer data and analysis we target advertising unique to each user and help our customers command 25% - 50% price premiums for the same advertising space.
That’s it. Simple enough right? Hopefully those of you who have been out of the loop for a while will enjoy the updated and simplified explanation.
Posted by: Connor Fee
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Great stuff! I’m proud of how how hard and smart you guys are working.