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Progress Ventures Newsletter 1q2014

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1 1 2014 Q1 Progress Ventures Quarterly Newsletter In This Issue Company Summaries 2 Venture Capital Market Update 3 Dstillery The Evolution Of Programmatic RTB In A Mobile-First World 4 An Insider’s Guide to Device Matching: Myths and Reality MediaMath MediaMath Acquires Tactads to Enable Cookieless, Cross-Device Targeting and Measurement 7 MediaMath Adds Global Scale, Functionality and Analytics to Programmatic Video Offering Integral Ad Science Nielsen And Integral Ad Science Expand Their Ad Viewability Partnership Beyond The US 10 Integral Ad Science Acquires Mobile Analytics Company Simplytics Integral Ad Science Raises $30M, August Capital-Led Round To Find High Quality Ad Impressions Skyword Skyword Enhances Content Marketing Platform With New Social Amplification and Publishing Features 13 Increasing Value of Content Will Turn Businesses Into ‘Mini-Publishers’ Simplifi How Big Data Can Make the Most Of Small Campaigns 15 Localytics The Secret To Bringing Users Back To Your Apps: Make the Experience Personal 17 Boston’s Localytics Triples And Raises $16 Million Series C Pixability Major Study Identifies Substantial Beauty Industry Disparities on YouTube 20 The Fearless Founder
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2014Q1

Progress Ventures Quarterly Newsletter

In This IssueCompany Summaries 2

Venture Capital Market Update 3

Dstillery The Evolution Of Programmatic RTB In A Mobile-First World 4 An Insider’s Guide to Device Matching: Myths and Reality

MediaMath MediaMath Acquires Tactads to Enable Cookieless, Cross-Device Targeting and Measurement 7 MediaMath Adds Global Scale, Functionality and Analytics to Programmatic Video Offering

Integral Ad Science Nielsen And Integral Ad Science Expand Their Ad Viewability Partnership Beyond The US 10 Integral Ad Science Acquires Mobile Analytics Company Simplytics Integral Ad Science Raises $30M, August Capital-Led Round To Find High Quality Ad Impressions

Skyword Skyword Enhances Content Marketing Platform With New Social Amplification and Publishing Features 13 Increasing Value of Content Will Turn Businesses Into ‘Mini-Publishers’

Simplifi How Big Data Can Make the Most Of Small Campaigns 15

Localytics The Secret To Bringing Users Back To Your Apps: Make the Experience Personal 17 Boston’s Localytics Triples And Raises $16 Million Series C

Pixability Major Study Identifies Substantial Beauty Industry Disparities on YouTube 20 The Fearless Founder

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Dear Friends,

Companies in the Progress Ventures portfolio been benefitted greatly from the upswing in budgets spend that have delivered strong lift to the digital marketing sector over the past year. We have summarized accomplishments and gathered a relevant collection of media coverage for each of the companies in the pages that follow. For this issue of our Newsletter, we have collected our thoughts on current trends in the Venture Capital market.

Finally, as we move on to our third fund (TWG Media Fund, Progress Ventures Fund I and now Progress Ventures Fund II), we have decided to merge our newsletter to include companies from all three investing entities. We hope you enjoy the read.

TWG Media Fund

Dstillery has continued to scale since acquiring EveryScreen Media in June 2013, achieving mid-double digit millions in 2013 revenue with a plan to double for 2014.

MediaMath acquired cookie-less targeting company Tactads for MediaMath’s ConnectedID – a technology that has been developing since 2013 designed to bridge the signals MediaMath uses to target.

Integral Ad Science raised $30M in Series D funding led by August Capital in January 2014 and acquired mobile analytics company Simplytics in February 2014. In addition, the company has expanded its ad viewability partnership with Nielsen beyond the US.

Progress Ventures Fund I

Skyword has continued to mature as a leading content marketing software provider. In 2013, the company added 59 new clients and is expecting to double its revenue in 2014.

Simpli.fi, following a $16M Series B round in Q4 2013, has been performing in line with budgeted and continues its focus around local programmatic marketing.

Localytics raised $16M in Series C financing to grow its closed-loop mobile marketing platform through product development, sales and customer service, and international expansion. Foundation Capital led the round as a new investor with existing investor Polaris Venuture Partners participating.

LocalResponse cracked the double-digit million dollar mark in revenue in 2013 and is on pace to double that number this year. The company is looking for data partnerships to expand its offering beyond its traditional data source of Twitter and FourSquare check-ins.

Trust Metrics has continued to grow and scale its data driven ad ratings measurement platform achieving EBITDA positive performance for full year 2013 and on track to more than double revenue in 2014.

Pixability had its first truly public launch, UberTube 2014, on April 30th with YouTube as a Co-Sponsor and Lucas Watson, VP Global Brand Solutions as a keynote speaker. The event was extremely well attended by brand marketers and agencies, making a strong statement for Pixability as the de facto YouTube marketing platform.

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Venture Capital Market Update

In Q1 2014, the VC market has exhibited several record breaking figures. Total financings for the quarter reached $12B, the highest quarterly record in terms of total investment. This was primarily driven by 19 large $100M+ deals such as DocuSign, Occulus, and Tango. Despite the increase in total investment dollars, deal volume fell slightly from 1,050 in Q4 2013 to 1,008. The decrease was primarily driven by a dramatic drop in early stage rounds from 502 in the previous quarter to 450. This could be attributable to the rising median pre-money valuation across all stages, which has grown 84% since 2010 to $5.8M causing smaller VCs to be priced out of early stage rounds at high valuations.

As a result, later stage companies have been attracting more investment and deal volume, increasing to 35% of all VC rounds (in terms of deal flow), the highest since Q2 2011. This is due to the high volume of Seed and Series A investments made in 2012 and 2013 are now starting to mature. For these later stage companies, several had very large rounds, especially Cloudera, which received $900M at a $4B valuation.

From a sector perspective, this quarter was strong for software. The industry received the highest level of funding, increasing 39% over the prior quarter to $4B. Biotech captured the second highest amount of funding at $1B despite having investment dollars and deal volume drop by 23% and 21% from the prior quarter respectively.

As has been observed recently and demonstrated this quarter, the IPO, as a vehicle for exit or liquidity, has gradually begun to increase in frequency. Of 168 exits in the quarter, 37 (22%) were through IPO, the highest volume since Q3 2000. The broader trend at play is linked to increasingly favorable capital market conditions as well as IPO’s attracting higher valuations than M&A deals.

M&A transactions also ticked up over the quarter increasing 23% to 174. The most notable acquisitions were Facebook’s acquisitions of Sequoia Capital backed WhatsApp ($16B) and Andreessen Horowitz backed Oculus VR ($2B).

As 2014 unfolds, with economic and capital market conditions improving as well as a ripe IPO and M&A market, we maintain a positive outlook on the venture industry. Although valuations have continued to climb and arguably squeezed out smaller VCs from investing at earlier stage rounds, the large volume of companies seed funded in 2012 and 2013 will produce a new “cohort” of companies seeking earlier stage rounds therefore causing an increase in deal volume. Furthermore, with IPO and M&A exits growing in frequency and valuation, we will witness venture investments generating solid returns for LPs.

Thank you and, as always, please feel free to contact us directly should you have any questions.

Nick MacShaneGeneral [email protected]

Sam ThompsonGeneral [email protected]

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Tom Phillips | Dstillery CEO

Dstillery (formerly Media6Degrees) is at the forefront of

advertising technology, pioneering new ways to create

brand value for marketers by extracting signals from the

complete customer journey and activating them across all

screens. The company is building on five years of leading

the data revolution in marketing to drive even greater

impact for each of its brand. They work with over 400 top-

tier brands, and have been recognized as one of Forbes’ Top

100 Most Promising Companies in America and Crain’s

Best Places to Work in New York.

For more information, visit: http://www.dstillery.com

The Evolution Of Programmatic RTB In A Mobile-First World

Written by Lauren Moores, VP of Analytics, Published by Ad Exchanger | April 2014

http://bit.ly/1gGTbcl

When real-time bidding debuted at scale a few years ago, it was heavily associated with remnant inventory and direct-response campaigns. Fast forward to today, when RTB serves as a vehicle for upper-funnel marketing and a core strategy for accessing mobile consumers in an increasingly mobile world.

The growth in digital media is overwhelmingly driven by increased media consumption on mobile devices, and many of the impressions that once happened on desktop are now happening on those devices. Worldwide, there are now more RTB impressions on mobile phones than on desktop. In Europe, mobile RTB impressions grew by 43% in the third quarter of 2013, while tablet impressions increased by 102%, according to Adform’s 2013 RTB Trend Report.

With this growth, RTB has graduated from its position as a remnant channel to now starting to be perceived as a premium-branding channel. The expansion of programmatic from direct response to branding has been driven by both the rise in mobile adoption and the ability to intelligently serve ads to targeted audiences.

There are two factors that make real-time branding viable.

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1. Mobile-First BrandingMobile gives brands the opportunity to find and connect with audiences that are no longer engaged on other channels. Some consumers have simply abandoned conventional channels in favor of mobile devices. Americans used smartphones and tablets to connect to the Internet more often than PCs for the first time in January,according to comScore.

Mobile adoption has also had a material impact on the evolution of desktop advertising, increasing its ability to do branding campaigns. Mobile has changed the way we think about exchanges and inventory in RTB because it has less of the remnant legacy of desktop. The remnant approach to advertising, with its early pop-ups and free iPod messages that left a bad taste in your mouth, never took hold on phones. Mobile started out differently. With the introduction of smartphones, brands were already viewing digital as a way to imagine new possibilities, rather than looking for cheap impressions.

When mobile first launched, device-tracking solutions were in their infancy. So naturally it lent itself to branding campaigns versus direct-response campaigns, which require real-time metrics such as clicks. Mobile didn’t initially offer the ability to measure a return on investment or conversion attribution.

However, savvy marketers knew that the early adopters were premium audiences, and these marketers were willing to jump in and see what would happen. The branding efforts have continued despite the recent strides made in direct response in mobile. As a result, we have seen auto manufacturers offer video tours of new car interiors and movie studios run trailers in front of apps. Programmatic mobile has proven itself a channel for premium ads.

2. Technology and Measurement Advances The branding initiatives in mobile have been translated back to desktop RTB. Desktop has evolved alongside mobile to become more sophisticated, leading top brands to take a chance on running branding campaigns through programmatic channels. The transition to branding in desktop RTB has been aided by the integration of private exchanges, such as FBX, AOL and eBay, as well as new media types, including video and native.

As the desktop channel has shifted from remnant to core, new

measurement metrics have also emerged. Viewability and brand-safety vendors have increased confidence in the channel. In addition, improvements in the ability to measure the overall media mix effectiveness beyond last-click attribution through third-party attribution partners, such as VisualIQ, Adometry and C3, have moved us beyond click-through rates. The ability to measure engagement and lift is a major factor when brand dollars are part of programmatic RTB.

Technology has made RTB safer and more sophisticated. Thanks in large part to the dramatic emergence of mobile as a major media channel, the idea of running a wide range of brand campaigns using RTB is no longer foreign to marketers.

I continue to see brand campaigns on the mobile side with creative that is focused on messaging vs. action. I’m also seeing branding-specific desktop campaigns embraced by action-oriented marketers who want to engage with new audiences using new technology. The shift to programmatic branding is small but will continue to grow as ad tech companies add more media channels to programmatic solutions, specifically TV, the traditional go-to branding vehicle for marketers.

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An Insider’s Guide to Device Matching: Myths and Reality

Written by Tom Phillips, CEO, Published by AdAge | April 2014

http://bit.ly/1hJWcfP

The stunning proliferation of smartphones and tablets brings with it a whole array of opportunities and frustrations for digital marketers. With most of a marketer’s prospective customers carrying a geo-enabled computer in their pocket at all times, the old time and space constraints of marketing messages come unhinged. In addition, the new stream of user data that emanates from mobile devices offers a quantum leap in opportunities to learn about and engage with customers.

The downside of this flood of new data is that consumer identities are now split between screens. And it’s not just the smartphone added to multiple browsers on two or more laptops, but the huge penetration of tablets, with connected TVs close behind. For marketers, the task of finding an audience has become geometrically more complicated as they need to find that audience many times over, and somehow coordinate messaging across all of these screens.

So along comes the industry’s new trendy technology: device matching. Device matching is a set of predictive technologies that connects multiple devices used by a single consumer. It enables data gathering and advertising that moves seamlessly between screens, allowing marketers to target consumers without redundancy and waste. Device matching also helps address cookie clearing, as any given browser is persistently associated with a given smartphone or tablet.

Sounds like an ideal solution, right? But there’s a rub. The inevitable question that arises from device matching involves the match rate -- how often do we correctly associate Mary’s phone with Mary’s computer. If we can’t prove that we’ve got a match a large majority of the time, is there any value in the technology?

The reality of device matching is that there is no reliable truth set. Claims about match rates tend to be arbitrary. And, surprisingly, match rate may not even be the important issue. The whole point of identifying a consumer across devices is to deliver marketing messages

to the right audience based on predictive analytics. And predictive analytics is a statistical undertaking where precision is often the enemy of scale.

In that context, match rates are far less critical than examining your consumers’ cross-screen behaviors. For instance, an 80 percent match rate (which has gained currency as the standard) is great, but not if you miss badly in your estimation of customer intent. Do devices that physically appear at Best Buy stores correlate to a higher incidence of “showrooming,” with the actual purchase being made on Amazon.com? How often do Amazon shoppers also frequent independent bookstores? Do those consumers also make e-book purchases?

Asking questions specific to the brand and campaign enables marketers to create a more complete picture of their prospective consumers. CrossWalk marketing -- enabled by predictive device matching -- is one component of marketing solutions that capture the full value of the digital ecosystem. The CrossWalk is a great innovation, but a means to an end. It enables all of that mobile intelligence to be injected into display campaigns, and all of that browsing intelligence to contribute to mobile campaigns. In fact, those who boast about match rates may have very little else to back up their claims. As we like to say, the real value is in matching audiences to your brand, not in matching devices to each other.

It’s time to move beyond the simplistic inquiry into tracking consumers as they move across smartphones, tablets and computers. The real challenge in our multi-platform world is to develop the insights and analytics to identify and engage the consumers -- at scale -- who are most likely to be receptive to your messaging and ultimately make a purchase.

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Joe Zawadzki | MediaMath CEO

Based in New York with 12 locations across five continents,

MediaMath develops digital marketing technology and

offers deep industry expertise, enabling marketers to

connect with consumers individually and at scale across

the entirety of the world’s digital media. MediaMath’s

TerminalOne Marketing Operating System™ enables

marketers to customize their own technology infrastructure

and leverage their data and industry data in the planning,

execution, optimization and analysis of digital marketing

programs, resulting in smarter decisions that grow their

business. Powering the operations for thousands of

marketers, including those representing 55 percent of

the Fortune 100, TerminalOne enables its users to drive

transformative business results across the entire digital

ecosystem.

For more information, visit http://www.mediamath.com

MediaMath Acquires Tactads to Enable Cookieless, Cross-Device Targeting and Measurement

MediaMath Press Release | April 24, 2014

http://prn.to/1kgUlwD

MediaMath, the creator of the TerminalOne Marketing Operating System™ for digital marketers, today announced its acquisition of Tactads, provider of cookieless and cross-device targeting technologies. Integrated into TerminalOne, these technologies will provide advertisers the ability to communicate with consumers and unify marketing efforts across smartphone, tablet, laptop, desktop, and other devices.

“The usage of multiple web-enabled devices has reached a critical mass and so has the challenge of targeting hyper-connected users across screens,” said Joe Zawadzki, chief executive officer, MediaMath. “Our acquisition of Tactads is just one of the many means we are employing to help our clients overcome this challenge, improve marketing effectiveness, and drive ROI.”

Tactads, a France-based company, has developed proprietary software that uses sophisticated algorithms to identify and associate devices using statistical techniques. This technology does not rely on cookies, does not employ personally identifiable information about consumers, and adheres to industry privacy standards.

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“The ad tech industry has gone through a huge transformation which has compelled a change in the way advertisers engage with consumers,” said Romain Gauthier, chief executive officer, Tactads. “We have been focused on developing privacy-compliant solutions to meet the challenges of targeting and to improve marketing performance – a goal that MediaMath shares. This acquisition will help introduce our solution to a broad, global audience and we’re excited to be part of the MediaMath family.”

Tactads’ solution is one component of MediaMath’s proprietary ConnectedID technology, being developed to enable advertisers to engage with their customers across channels and devices with unprecedented scale. “In addition to integrating Tactads’ powerful cookieless and cross-device technologies, our ConnectedID offering will bridge targeting signals from media companies, publishers, and advertisers, while maintaining strict privacy compliance and allow for a more robust consumer opt-out than cookie-based solutions in the market today,” said Ari Buchalter, chief operating officer, MediaMath. “ConnectedID will power cross-channel marketing and measurement as never before.”

ConnectedID is expected to be available in beta in Q3 2014 as part of MediaMath’s TerminalOne Marketing Operating System™.

MediaMath Adds Global Scale, Functionality and Analytics to Programmatic Video Offering

MediaMath Press Release | February 5, 2014

http://prn.to/1kgUGza

Addition of international video supply partners creates unparalleled, multi-channel global reach for TerminalOne™ users

With online video ad spending in the U.S. expected to reach $5.8 billion this year, representing 40%+ growth, (eMarketer, March 2014), MediaMath has augmented its programmatic video offering,

enabling users of its TerminalOne Marketing Operating System™ to access inventory from video marketplace partners including LiveRail, BrightRoll, Adap.tv, DoubleClick Ad Exchange, newly integrated SpotXchange, and more. Integrations with StickyADS.tv and others are coming soon.

Through continuous innovations and strategic partnerships, MediaMath’s TerminalOne Marketing Operating System™ uniquely serves marketers seeking an omni-channel platform to activate their own data and third-party data, automate execution and optimize interactions with all consumers across all addressable media.

The current video supply not only gives MediaMath customers access to extensive global scale of more than 60 billion monthly video impressions, but also the power of an integrated operating system and a centralized view of marketing performance across all channels -- display, social, mobile and video. From targeting and optimization to global budgeting and frequency capping and reporting and tracking, TerminalOne offers a seamless and consolidated workflow for all marketing efforts.

“Programmatic video advertising is poised for tremendous growth over the next few years,” said Greg Williams, Co-Founder and SVP of OPEN Partnerships for MediaMath. “By expanding our video partnerships, we enable our customers to take advantage of the best of the ecosystem to amplify their video advertising performance, while also strengthening their ability to leverage a single, omni-channel platform to communicate with consumers across multiple touch points.”

In addition to the expansive international video inventory, by incorporating video efforts within TerminalOne, marketers benefit from:

• Data management: easily onboard CRM data and leverage the comprehensive group of 3rd party data providers within TerminalOne™

• Video-specific targeting & measurement: optimize and target against video-specific goals including exposure, engagement, reach, frequency and more.

• Alignment of digital plans with TV buying methods: express audience measurement in the language of TV and leverage

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partner data, such as Datalogix DLX TV segments, for targeting• Goal-based performance optimization: leverage MediaMath’s

proprietary machine learning algorithm and its ability to analyze terabytes of data daily to optimize to any measurable goal.

• Full video ad serving capabilities: utilize the T1 ad server or bring 3rd party tags, supporting VPAID and VAST, with automatic encoding into all major video formats.

• Integrated reporting: Access standard T1 reporting, plus transparent video-specific performance data such as quartile-completion metrics and more.

• Private Marketplace deals: gain support for DealID to access premium and private inventory across major exchanges (coming soon)

Peter Ahl, Founder of SerenataFlowers.com, has already experienced success with MediaMath’s programmatic video. “Prior to utilizing MediaMath’s video capabilities in TerminalOne™, we had little control over our video strategies. MediaMath’s recent video integrations and enhancements have enabled us to streamline our marketing efforts across all of the necessary channels and their growing partnerships allow us to take advantage of the strengths of the video power players in market, but still gain the benefits of the optimizations within and maintain a complete view of all of our marketing activities.”

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Scott Knoll | Integral Ad Science CEO

Integral Ad Science is a technology company focused

on ensuring safe, quality media environments for

online advertisers. Employing the industry’s only media

valuation platform, Integral Ad Science evaluates the

media environment and establishes a TRAQ Score (True

Advertising Quality), a first-of-its kind, quantifiable

measure of media quality that ultimately benefits every

media buyer, seller, publisher and trading platform. TRAQ

score supports an advertisers’ ability to plan, execute and

target their audience in an environment that reflects their

brand image and drives ROI, while simultaneously setting

benchmarks for publishers who wish to improve the quality

of their media, content and design. Integral is headquartered

in New York with operations in San Francisco, Chicago,

London, Tokyo, Singapore and Sydney.

For more information, visit http://integralads.com

Nielsen And Integral Ad Science Expand Their Ad Viewability Partnership Beyond The US

Written by Anthony Ha, Published in TechCrunch | March 30, 2014

http://tcrn.ch/1kr018s

Nielsen and Integral Ad Science are announcing that they’re taking their partnership international.

Nielsen is best-known for its TV ratings system, but it has been expanding its measurement on the web, on social media, and on mobile. Back in 2012, it announced a partnership with Integral Ad Science (then known as AdSafe) to measure ad viewability (i.e., whether an ad was actually seen by someone — it turns out that a significant number of online ads are never even rendered in the browser window) in the United States.

With today’s announcement, the companies say they’re expanding the deal so that Integral’s methodology will be used to measure viewability for Nielsen Online Campaign Ratings in Australia, Brazil, Canada, France, Germany, Italy and the United Kingdom. In the press release announcing the expansion, Integral CEO Scott Knoll said the two products together are “a great match for helping buyers and sellers optimize for quality and determine the true ROI-impact of their advertising campaigns across channels.”

The companies note that both Nielsen’s online ratings and Integral’s

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methodology are certified by the Media Rating Council.

“They can show that an ad was viewable and who viewed it – an essential component in understanding ad effectiveness,” Knoll added. “We are thrilled be working with Nielsen to bring this same level of measurement and transparency to clients in new markets around the globe.”

Integral announced in January that it had raised a $30 million Series D.

Integral Ad Science Acquires Mobile Analytics Company Simplytics

Integral Ad Science Press Release | February 11, 2014

http://bit.ly/1kqZGm9

Integral Ad Science, the leading global provider of actionable advertising intelligence for buyers and sellers of digital media, today announced that it has acquired a UK based mobile ad serving and analytics company, Simplytics. This strategic acquisition allows Integral to add mobile verification for both in-app and mobile web campaigns to its suite of solutions, now providing media quality coverage and viewable ad measurement across all screens. All employees of Simplytics will join Integral in its expanding European headquarters in London.

Following the expansion of its video solution, this acquisition positions Integral as the only company to offer ad verification across all digital channels: display, mobile, and video. It is also the first to provide increased transparency into ad quality and user engagement for both in-app as well as mobile web ad campaigns. In-app advertising is the fastest growing segment of mobile advertising spend. However, it is frequently cited as difficult to scale and measure accurately due to lack of measurement and verification solutions. Integral’s mobile analytics and verification product empowers advertisers to confidently adopt this valuable advertising medium, and customers will gain deeper insights into actual ad placement and exposure metrics, while helping

to eliminate accidental, out-of-view or fraudulent impressions.

The efficiencies in verifying, measuring and optimizing all campaign channels utilizing Integral’s platform and best-in-breed measurement standards provide an additional benefit. Integral’s clients will now be able to truly assess the incremental value from each media partner and each channel, and maximize the yield of their campaigns.

“Mobile, especially in-app, has been a black box to marketers,” said Scott Knoll, CEO of Integral Ad Science. “At Integral we’re committed to providing a truly comprehensive and integrated solution set for our clients across the advertising ecosystem. We are going to bring the same level of transparency that our customers have come to expect from display and video to mobile. We believe that by providing these tools to everyone in the marketplace, we will increase the overall value of the digital advertising industry.”

Simplytics is a mobile ad server and analytics platform managing mobile advertising campaigns across smartphones, tablets, in-app and mobile web for some of the largest global brands, including Microsoft, Peugeot, Samsung, Starbucks and Virgin Media.

Knoll continued, “Simplytics was a natural fit, and we were drawn to the company’s superior technology and advanced, built-in analytics for mobile advertising including metrics such as unique users, engagement time, and full device breakdown. We are looking forward to blending our teams and cultures, and together, innovating for the future of mobile advertising.”

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Integral Ad Science Raises $30M, August Capital-Led Round To Find High Quality Ad Impressions

Written by Anthony Ha, Published in TechCrunch | January 2, 2014

http://tcrn.ch/1kr0esm

Integral Ad Science, a company that evaluates the quality of ad placements, has raised $30 million in Series D funding.

The funding was first disclosed in a regulatory filing and has been confirmed by CEO Scott Knoll, who said the round was led by August Capital (with existing investors Atlas Venture and Pelion Venture Partners participating). August’s Eric Carlborg is joining the Integral board.

The company started out as AdSafe but took on its current name in 2012 as part of a rebranding effort away from ad verification (i.e., confirming that an ad ran on the intended site and reached the intended audience) and towards “media valuation” (helping advertisers find and buy high-quality impressions).

To do that, Integral offers a “TRAQ Score”, which incorporates things like brand safety, page content, and ad viewability into a single metric. Knoll also said that one of the company’s big advantages is the fact that it works with customers on both the “buy side” and the “sell side”, and that programmatic buying (where ads are bought in an automated, real-time fashion) is making up a growing part of the business.

He added that the company didn’t need to raise the funding (it last raised a $10 million Series C in 2012), but he said, “It’s always a good time to raise, especially if you don’t have to.”

Knoll’s goals for 2014 include global growth and incorporating different types of advertising. Integral has been largely focused on display ads, and it recently added video. As Integral introduces more ad channels, Knoll said it will become more essential because its machine learning algorithms will improve, it can provide “a more holistic picture of what’s happening.”

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Tom Gerace | Skyword CEO

Skyword delivers all that marketers need to reach and

engage their audiences with quality, original content

designed to succeed in search and social media. Quality

content is essential for reaching and engaging consumers

today, but the creation process is messy, inconsistent and

immeasurable. The Skyword Platform makes it easy to

produce, optimize, and promote content at any scale to

create meaningful, lasting relationships with customers.

Skyword also provides access to a community of thousands

of professional writers, and its content strategy and editorial

teams can help ensure the ongoing success of clients’

content programs. Skyword is a privately held, privately

funded company headquartered in Boston, Massachusetts.

Investors include Allen & Company, Progress Ventures, Cox

Media Group, and American Public Media Group.

For more information, visit http://www.skyword.com.

Skyword Enhances Content Marketing Platform With New Social Amplification and Publishing Features

Written by Ted Karczewski, Skyword Press Release | January 27, 2014

http://bit.ly/1gUflYX

Leading content marketing platform and service provider introduces social amplification, Facebook content creation, and email notification features.

Skyword, the leading platform for producing quality, original content at scale, introduced new social amplification and publishing features to its comprehensive content marketing platform.

Skyword’s clients can now easily amplify content on Facebook Pages, Twitter Pages, and LinkedIn Groups directly from the Skyword Platform. This will further streamline the content creation and amplification process by enabling marketing teams to plan, create, and publish custom content across their branded networks. Included in this release is direct publishing to Facebook functionality, which allows brands to manage content creation for Facebook with its network of content contributors.

“Social media drives our passive discovery today, just as search drives our active discovery. Marketers need to create experiences for their customers and connect with them wherever they spend their time. Today, Skyword extends its content marketing platform to allow

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marketers to connect with customers through social and measure the engagement they drive seamlessly, without having to hop between multiple platforms and without losing valuable data between systems,” Skyword CEO and Founder Tom Gerace said.

The latest update to the Skyword Platform carries with it several key benefits, including:

• Ability to leverage the power of social media without leaving the Skyword Platform

• Streamlined and scalable approach to social promotion and Facebook publishing

• Easy review and approval process to ensure consistent brand standards and tone for social media amplification

• Detailed analytics and reporting for insight into what content is resonating most in each social channel

• Faster review and approval process with automatic email notification of content in reviewer’s queue.

Report: Increasing Value of Content Will Turn Businesses Into ‘Mini-Publishers’

Written by Jonathan Crowl | January 31, 2014

http://bit.ly/Q0JrTu

Content production is still gaining momentum among businesses in 2014, with 35 percent of companies saying they’ll increase spending on inbound marketing this year.

That figure comes from marketing agency Green Hat, which just released its 2014 B2B Marketing Outlook. Green Hat worked with the Association for Data-Driven Marketing and Advertising to produce the report, which identified sales and marketing integration as the most challenging—and most important—task for businesses in 2014.

This trend is motivated by the success inbound marketing content has had in driving sales from online consumers. With inbound assets delivering consumers further down the sales funnel, digital marketing

campaigns are playing a significant role in lead qualification by taking consumers through top-level phases of the sales process.

Forty percent of companies surveyed by Green Hat identified content as a “very significant” aspect of their B2B marketing efforts. Those companies plan to devote more money in 2014 to developing websites and microsites, running email campaigns, syndicating content, creating online videos, and marketing across social networks.

This investment in diverse forms of content, combined with inbound’s increased emphasis and a larger transition from traditional selling to engagement strategies, will prompt businesses to develop into “mini-publishers” that use data and consumer insights to build more complex content campaigns that better address consumers’ interests and needs.

“The trends tell us that B2B marketers will not be generating leads in the future,” said Green Hat Managing Director Andrew Haussegger. “At least, not in the way it is being done today. ‘Interruption marketing’ is gradually being replaced by ‘engagement marketing.’”

In conjunction with this transition to digital-first marketing, Green Hat said it believes that in 2014, digital marketing spending will surpass traditional marketing spending for the first time. In 2012, the gap between traditional marketing and digital marketing was 12 percent; in 2013, that gap shrank to just 4 percent.

Content production and management is vital to online success, and in 2014, it has turned into a requirement for online-first businesses.

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Frost Prioleau | Simpli.fi CEOHow Big Data Can Make the Most Of Small Campaigns

Written by Frost Prioleau, Published by Ad Exchanger | April 18, 2014

http://bit.ly/1gUi0Ss

The average small and medium-sized business (SMB) in the US spends about $400 a month on marketing, according to the US Chamber of Commerce’s 2013 SMB Internet Marketing Survey. Of that $400, 46%, or $184, is dedicated to digital advertising.

For most local advertisers, the best route to leveraging digital for their business is through a locally focused advertising network or their local media publishers. These types of entities can coordinate their marketing budget across several channels including search, online directories, mobile and, increasingly, targeted display.

At first glance, it would seem that local advertisers have the most to gain from programmatic marketing, with its high volumes of inventory from which to choose, precision audience targeting, highly optimized campaigns and spending efficiency.

But after allocating the majority of the digital spending to pay-per-click and online directories, the amount left over for display, mobile and video is often $100 or less. This $100 is further split across targeting tactics, such as site retargeting and search retargeting, resulting in campaign budgets of $1 or $2 per day.

While their budgets are low, the local advertiser’s targeting expectations are high. SMBs expect their ads to be served on high-quality inventory

Simpli.fi is an advertising technology company

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while driving a variety of key performance indicators, including clicks, online leads, incoming calls and foot traffic.

Unfortunately, most programmatic technology has been designed for the large scale of national campaigns. Not only are optimization algorithms and budgeting systems typically built around larger volume campaigns, the big data that is often used is bundled into prepackaged segments meant for national campaigns.

For example, while Toyota dealers across the country presumably want to target auto intenders, there’s a big difference between types of cars moving off the lot in Fort Worth, Texas, and Silicon Valley. While the Texas dealer may want to target an audience that is more interested in Tundra trucks than Priuses, the dealer in Palo Alto would likely want the opposite. The ability to customize targeting to a local audience could be the difference between a programmatic campaign that delivers results for a local advertiser and one which causes the advertiser to write off programmatic as a tactic for only national campaigns.

Search has worked well for local advertisers precisely because it enables advertisers to customize campaigns to local needs. Just because a campaign works in Portland, Maine, doesn’t mean it will play in Portland, Oregon. In order to be effective for a local advertiser, programmatic marketing must enable advertisers to target the right combination of keywords and context so that local marketing makes sense. This may include:

• Regional culture and nomenclature• Local events, festivals and sporting events• Specific regional competitors• IP ranges of nearby universities, military bases and corporations• Tight radius targeting and geoconquesting• Contextual advertising with local publishers

So what does it take for a SMB with a small campaign to get the most out of big data in a display campaign? Ironically, it takes using data in its smallest unit: an individual data element. By working with granular, unstructured data, local advertisers can create customized campaigns that work at any budget level.

Not only is this good news for the local independent dry cleaner

purchasing targeted display through his or her local media advertising representative, it also opens a whole new level of campaign optimization for any multiunit retailer, franchise company or chain restaurant that depends on local awareness and conversions.

SMBs and big brands alike have grown accustomed to the detailed targeting and insights available in search, where they see how each search term delivers and performs. By using data in its raw, unstructured format they can maintain that targeting when they move into display.When that is possible, to paraphrase Tip O’Neill, perhaps all advertising can be local.

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Raj Aggarwal | Localytics CEO

Localytics is the leading marketing and analytics platform

for mobile and web apps. Localytics works with some of

the world’s most well-known brands, like eBay, Salesforce,

Microsoft and The New York Times, helping them create

great experiences for their customers and maximizing

profitability, engagement, lifetime value and loyalty.

Localytics provides analytics and marketing for more than

1 billion devices across more than 20,000 apps. Localytics’

headquarters are located in Boston, MA.

For more information, visit http://www.localytics.com

The Secret To Bringing Users Back To Your Apps: Make The Experience Personal

Written by Raj Aggarwal, Published by VentureBeat | April 2, 2014

http://bit.ly/1kto5b6

There’s no doubt that we’re living in an app world.

New numbers from comScore confirm that Americans are now spending more time on apps than desktops and that app stores are exploding, with the Apple App Store boasting north of 1 million apps in 2013.

Today, traditional brands and mobile-first companies are building entire businesses on apps with monetization from in-app purchases, subscriptions, and other forms of commerce within the app as their business model.

The problem, however, is that their KPIs (key performance indicators) and marketing strategies have almost exclusively focused on user acquisition: the coveted download. The assumption was, “If someone downloads my app, they’ll use it forever.”

Unfortunately, that’s a misconception. In fact, 22 percent of apps are used only once after being downloaded.

Many assume that achieving app engagement means throwing large

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sums of money into advertising, but there’s a smarter route. It’s achieved through accessing granular analytics about your users and their app habits and then converting these insights into targeted marketing campaigns that keep your users coming back to your apps, and ultimately, delivering highly personalized in-app experiences.

The results? Lower marketing costs and the potential for higher customer lifetime value. There are several practical steps — all rooted in analytics — that you can start taking right now to build engagement and more personalized app experiences.

Capture users’ attention with in-app messagingIn-app messages are sent to users while they’re in an app. They’re great for things like motivating customers to rate your app (critical to app-store ranking), notifying them of updates or new content, offering rewards, and promotions or providing a tour of new features. These messages let you interact with your users right when they’re engaging with your app — and when your brand is top of mind. Analytics are key to knowing how and when to personalize in-app messages, so they hit the right user at the right time on the right device.

Bring users back to your app with push messagesPush messages are notifications sent to users on their home screen when they’re not in the app. They work best to re-engage people who haven’t used your app recently and are a powerful tool for stimulating engagement and conversions, even when users haven’t launched your app for days, weeks or months.

It’s crucial, however, that these messages are as personalized as possible to capture users’ attention; this is where granular analytics help you formulate ideal content, frequency and timing of your push messages. Without this degree of customization, your push messaging is a blanketed blast, which could backfire and become a turn off. For example, recent data indicates marketers should send U.S. and European users push messages at different times of the day based on their differing app-usage patterns.

Test, learn and iterateA/B testing allows you to try different copy, creative and content with different user segments to understand which resonates best and offers the strongest likelihood to impact conversion and lifetime value. By understanding what’s working and what’s not with different users, you

can continuously adapt and personalize your message and content to achieve the best results. Analytics provide the foundation for A/B testing, helping you segment your user base, use controls during your tests and measure and learn from results.

While there’s no replacement for a well-designed, well-executed app, creating personalized marketing campaigns that use these techniques will enable you to engage users more effectively. Getting consumers to download your app is the first step, but making them repeat users is the next – and even more important – step. The data you collect and analyze today will help you develop rich user profiles tomorrow to unlock further user engagement.

Boston’s Localytics Triples And Raises $16 Million Series C

Written by Peter Cohan, Published by Forbes | February 5, 2014

http://onforb.es/1gMrswl

Advertisers are trying to reach an increasingly mobile populace. And with a much smaller canvas on which to paint an attention-grabbing picture, mobile advertisers face a gigantic challenge:

How can they turn ignored spam into information that people need to make decisions that are important to them now? One way to do that is to understand what each individual cares about at each point in time as they move through the physical world with their mobile devices.

By doing that, advertisers can offer, say, a 10% discount coupon to a consumer right before she is about to purchase a pair of shoes in a retail store. Instead of ignoring the advertising message, she will realize that it will save her a few bucks on a pair of shoes that she was about to pick up and carry to the store’s cashier.

If this happens, then the advertiser gets a return on investment in the advertisement and the consumer gets a deal on her shoes.

A Boston-based startup, Localytics, offers this service — dubbed

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closed-loop marketing — to advertisers. This is hardly an original concept — I wrote about the idea in my 1998 book, Net Profit – but Localytics’ execution of this closed-loop approach for mobile users is working very effectively (and its use for mobile devices is not something I had anticipated back then).

The company is growing very rapidly. As CEO Raj Aggarwal — who told me last August about his work helping Steve Jobs to get AT&T to support the iPhone — explained in a February 3 interview, “2013 was a record-breaking year for Localytics during which we tripled revenues for the fifth straight year. In 2013, we grew our customer base significantly — adding ESPN, Clear Channel and SoundCloud to customers including eBay, Fox and Microsoft. We also opened offices in San Francisco and London and our platform is now used by more than 5,000 companies, and is installed in over 1.4 billion devices across the globe.”

Localytics is growing because it delivers a return on investment for mobile advertisers. As Aggarwal explained, “18 months ago, 10% to 15% of consumers were using mobile — now about 60% of digital usage is mobile. Advertisers are looking for the best-of-breed mobile platform and we have been building it for five years.”

Localytics’ platform can boost an e-commerce provider’s revenues. Said Aggarwal, “One of the biggest problems in e-commerce is shopping cart abandonment. People are about to make an online purchase and then they stop — perhaps as they are entering their payment information. We will enable an advertiser to test various offers to a consumer at that point — such as free shipping coupon or a 10% discount coupon — and see which one leads to a purchase.”

Localytics can also serve consumers a message based on his interests and location. “If I know that you are a Red Sox fan and you are in Boston, I can make an article about the Red Sox appear on your home page. Advertising tied to that article is more likely to lead you to make a purchase,” explained Aggarwal.

This growth has not been lost on investors. On February 4, Localytics announced that it had raised $16 million in a Series C round from Foundation Capital and Polaris Partners — bringing its total capital raised up to $25 million.

Aggarwal is pleased to get the capital and knowhow from Foundation Capital. He said, “When we went out to Silicon Valley, CEOs kept telling me that Foundation Capital was entrepreneur-friendly. I am thrilled that Foundation Capital General Partner Ashu Garg will be joining our board. He has deep expertise in the marketing software space and is a great personal fit. With this injection of capital we will continue to enhance the platform, expand our business internationally and deliver even more value to our customers.”

Foundation Capital has “more than 80 high-growth ventures in the areas of consumer, information technology, software, semiconductors, and clean technology” in its portfolio and has enjoyed 19 initial public offerings including ”Control4, Envestnet, Financial Engines, Netflix, NetZero, Responsys and Silver Spring Networks.”

And Garg sounds pleased to add Localytics to its portfolio. As he said, “Businesses are operating in a world transformed by the app experience. In 2014, the winners will be those that can leverage insights from both mobile and web for competitive advantage across the entire marketing chain. Localytics is uniquely positioned to serve these companies.”

Will Localytics be able to hit the $100 million revenue target that is commonly considered the benchmark for high tech IPOs? Aggarwal seems to hiring with that expectation in mind. As he said, “Our chief operating officer Duncan McCallum built and sold at least two companies. And we just hired Dave Witting who had previously spent 8 years as head of customer success at Brightcove.”

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Pixability is a YouTube-certified marketing and advertising

software company that works with brands, e-commerce

firms, agencies, and innovative organizations to drive

business and awareness with online video and YouTube.

Using its powerful, proprietary, cloud-based video

marketing software and online video and community

analytics databases, Pixability’s certified and seasoned team

of YouTube professionals has worked with more than 500

customers, 10,000 YouTube channels, and 2.5 million

business and brand videos. Pixability’s complimentary

Online Video Grader (onlinevideograder.com) provides

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For more information, visit http://www.pixability.com/

Bettina Hein | Pixability CEOMajor Study Identifies Substantial Beauty Industry Disparities on YouTubePixability Press Release | February 4, 2014

http://bit.ly/QIwUo4

Beauty industry consumers are turning to YouTube in record numbers, but are bypassing major brands for product recommendations, instructional guidance, and social engagement. Today, Pixability launched “Beauty on YouTube: How YouTube is Radically Transforming the Beauty Industry and What That Means for Brands,” a comprehensive study on one of the most active and leading-edge industries in the digital video marketplace. For all their creative and advertising investments, major brands have only garnered 3% of the 14.9 billion beauty-related video views on YouTube. Download Pixability’s full report here.

Identifying and analyzing how 168 major beauty brands and 45,000 YouTube beauty-focused personalities manage, produce, and socialize more than 877,000 hair care, skin care, makeup, and nail videos, the report highlights striking differences between those manufacturing products and those manufacturing videos about products. Just a handful of beauty brands are effectively incorporating YouTube into their web and commerce initiatives, while only a few are successfully working with YouTube’s independent beauty personalities.

“Understanding the important role of video in the beauty industry

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is a given, so we had the foresight to fully integrate YouTube into our marketing several years back and it paid off,” said Cory Pulice, VP E-commerce for e.l.f. Cosmetics. “Creating informative and instructional videos for our premium cosmetic and makeup products is only part of the equation. Genuinely engaging with our passionate YouTube community is the other part, and that helps drive our business.”

Pixability’s beauty study uses more data than any other previously conducted analysis on the digital video marketplace for the beauty industry, and delivers both critical market insights and important prescriptive measures for brands and beauty content producers. Some of the report’s key findings include:

1. Teenagers challenge brands and agencies. Multi-billion dollar beauty corporations with massive ad budgets and high-end creative agencies are getting beat on YouTube by teenage girls producing content in their bedrooms. YouTube vloggers, haul girls, and other beauty content creators control 97% of conversations around beauty topics and related brands on YouTube.

2. YouTube emerges as a lifestyle utility. People watch non-brand YouTube tutorials in the morning and in the evening on the East Coast and West Coast as they prepare for work and then a night out. Non-branded beauty tutorial content shows significant YouTube search spikes at specific times of day typically associated with applying makeup and doing hair. Comparatively, beauty brand video searches and views on YouTube remain flat regardless of time of day.

3. A television mentality doesn’t work on YouTube. Brands and their agencies continue to suffer from a “television” mentality on YouTube as they deliver content that’s out of step with the digital audience and miss enormous opportunities for engagement, awareness, and commercialization. Repurposed television commercials published to YouTube generally underperform both on views and with audience engagement. YouTube’s top 25 beauty vloggers receive 2600% more comments on their made-for-YouTube content on average than beauty brand channels’ content.

“The data in this study highlights the tipping point for share-of-voice for the beauty business. More importantly, these YouTube dynamics will have a profound effect on how beauty brands and their agencies market and advertise,” said Rob Ciampa, CMO of Pixability. “Brands

that mistakenly treat YouTube as a quasi-television station should not be surprised by dismal ROI. Those that embrace YouTube as a critical digital marketing and communication medium, however, will see outstanding results. Pixability’s analysis of the beauty industry on YouTube backs that up.”

Pixability will present additional details of the study at WWD Digital Forum: Beauty Edition on February 11, 2014 in New York City. The company will also host a free live webinar on both the study and the beauty industry on YouTube on February 26, 2014. Registration details can be found at http://www.pixability.com.

For a comprehensive look at all major findings and best practices contained in “Beauty on YouTube,” please download the full report.

Study MethodologyYouTube-certified data scientists used Pixability’s big data YouTube software to collect, validate, and analyze beauty-related information from YouTube, Facebook, Twitter and other social media sources. Pixability’s software then authenticated and cleansed the candidate data sets of videos, channels, and associated metadata to identify more than 877,000 hair care, skin care, makeup, and nail videos on YouTube. The software then catalogued relevant channels, including those of 168 beauty brand channels, along with another 45,000 channels controlled by YouTube beauty personalities and vloggers. All individual metrics per video were added by channel and then by owner to get to the total values used in the study. The raw data was used as input for Pixability’s Online Video Grader software. The data presented in the study represents full and exact counts of the metrics described above. No sampling, estimates, regressions or projections were used. The complete methodology, including exact data harvested for each channel by Pixability’s YouTube software and the resulting Grader scores from Pixability’s Online Video Grader software, is included in the full report.

For more information about the report, email Pixability at [email protected] or call 888-PIX-VIDEO (888-749-8433).

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The Fearless Founder

Written by Chris Raymond, Published by Success.com | January 27, 2014

http://bit.ly/1fAch96

Bettina Hein has made her mark during two economic valleys.

Starting a new company is never easy, but Bettina Hein knows better than most just how grueling the experience can be. She has weathered the trials of two tech startups, both during brutal economic downturns.

The first, Swiss-based software company SVOX AG, which hired her as chief financial officer in January 2001, opened mere weeks after the dot-com bubble burst. The second, video marketing company Pixability, arrived with the Great Recession in October 2008. “Put a Google Alert on my name,” Hein says. “If you see me founding another company, sell all your stocks!”

It’s a testament to her leadership neither effort failed. In fact, SVOX was acquired by the U.S. firm Nuance Communications two years ago for $125 million. Its text-to-voice technology can today be found in Android phones, Google’s translation service and some GPS systems.

Hein was 27 years old and fresh out of grad school in Germany when she joined the fledgling company. Despite her youth and the inhospitable investment climate, she managed to raise $8 million in capital with SVOX’s co-founders to jump-start the enterprise. Before long, though, she found herself staring at the withering margins in the company’s sales figures, wondering how to make payroll. At one point she had to dismiss half the 20-employee staff. It was heartbreaking, but Hein prides herself on her fortitude. She has been prepping for the rough-and-tumble world of entrepreneurship her whole life. “Nobody in my core family had a 9-to-5 job,” she says. “We were never really rich, but everybody sort of worked for themselves.”

Born in Germany, the future CEO spent parts of her formative years in South Carolina, Florida and Dallas. Her grandfather went to work in the mines at age 15 and later emerged with his own coal distribution company. Throughout her childhood, he quizzed her on math and tutored her on the fine art of negotiation.

Hein learned to code in the fourth grade, mastering Logo on a IIe series Apple. Her well-meaning dad pressed her into a variety of internships during her teens. “Every school vacation I would be shipped off somewhere,” she says. “I worked in the U.S. Congress [with the District of Columbia’s Eleanor Holmes Norton]; I worked in the German Parliament; I sold oil.”

Hein’s latest opportunity appeared in 2006, when she was pursuing a master’s in tech management at MIT and noticed the game-changing rise of the Flip camera, Final Cut Pro and YouTube. “I saw what was going on in online video and it just hit me—that’s where I have to be,” she says.

She launched Pixability as an editing service for home videos, but it gradually morphed into a service that helps major corporations market themselves on YouTube by using an array of analytic software to develop, optimize and promote their content.

YouTube draws a billion unique visitors a month. “That’s as many as Facebook,” Hein says. More to the point, millions of consumers use the site each day for help in researching their purchasing decisions. Roughly one-third of apparel sales are influenced by YouTube, for example.

That makes the platform a very cost-effective way to promote your business. According to a recent Pixability study, 99 of the world’s top 100 brands have a channel on the site. Hein also points to the remarkable success of Orabrush, inventor of a cheap, little-known breath-cleansing tongue brush. The company produced its first video for $500; 30 million views later, it has a nationwide distribution deal with Walmart.

Pixability hasn’t reached SVOX-like heights, but the business is growing. Hein’s client list includes Verizon, Nestlé, L’Oréal, Gillette, HP and Sovereign Bank. All use the company’s analytic software to lift their content.

Looking back, Hein sees certain advantages to opening in the midst of a major recession. The competition is less intense, she says, which means you have time to get your bearings. And you learn quickly if your idea has legs. “People buy it or they don’t,” she says. “They’re worried about survival. They’re not worried about being nice to you.…

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“Entrepreneurship is not a feel-good exercise,” she concedes. “You need support from other entrepreneurs, from your family. Surround yourself with people you can lean on.”

These days, the CEO lives in Cambridge, Mass., with her husband, Andreas Goeldi. They have a 2½-year-old daughter, Louisa, and another child on the way. Hein relishes the diversity in her new neighborhood, where she’s not the only female tech entrepreneur. In 2009 she teamed up with Zipcar founder Robin Chase to start a local meet-up group for female executives. Members convene in Boston for breakfast, lunch or dinner on the last Wednesday of each month.

“When I got pregnant with Louisa, that was a terrifying time in my life,” Hein says. She found herself lying awake at night, questions racing through her head. “I had investors; I needed to raise more money. Were they going to support me? How was I going to do this with a baby? Having that group of people to support me was really awesome.” After all, where else can you find such a wealth of advice on both night nurses and strategic partnerships?

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B o s t on O f f i c e : O n e Bro a dw ay, 1 4 t h F l o or, C ambr i d ge , M A 0 2 1 4 2 , P h on e : ( 6 1 7 ) 4 0 1 - 2 7 0 0 New York Of f ice : 245 Park Avenue, 27th Floor, New York, NY 10167, Phone: (212) 609-6914


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