ShopIt, a social commerce platform that enables people to set up an online store and sell goods through a variety of social networking services, has finished integrating its recently acquired Triana Global publisher network and relaunching it as ShopIt Media, another social advertising platform.
Like many others, Triana Global claims to have been one of the first ad networks that started focussing on monetizing facebook applications after the social networking service started opening up for outside developers with the launch of Facebook Platform back in May 2007. Its biggest competitors are Adknowledge (which recently picked up both Cubics and Lookery Ads), Social Media, Offerpal Media and Appssavvy.
The service has managed to stay largely under the radar since its launch, and even when they started guaranteeing floor CPM rates of $0.15 and $0.08 CPC rates on standard banner sizes for new developers joining the network they seem to have gotten the silence treatment and were also downright criticized for developing their own Facebook apps besides acting as a social advertising network. It didn’t help that Triana Global claimed to have hundreds of applications in their network, which they later expanded to other social networks like MySpace, hi5 and Bebo, but never published a portfolio or customer reference list.
Either way, apparently the company was acquired by ShopIt in October 2008, and that startup is now relaunching the service as ShopIt Media, essentially providing a way for their users (1 million according to the company) to market the products they have for sale across a multitude of social communities. New publishers are being wooed with a 80% revenue share for all campaigns on Facebook, Ning, MySpace, hi5, Bebo and Orkut that are kicked off in February.