Canadian startup Empire Avenue has raised $200,000 in seed funding from a group of angel investors, including Boris Wertz of W Media Ventures.
Empire Avenue, which launched to the public earlier this year, people to buy and sell shares in each other. A person’s influence score is their share price, which is calculated using share-trading activity on the site, as well as the Influencer’s offsite contributions to their own blogs, websites or social-media networks.
Since February, Empire Avenue has attracted over 15,000 registered users and businesses to the market, including Sears, OREO, WestJet, Motorola, and others. Empire Avenue says that over 750,000 virtual share trades have occurred on the site in the past three months with a total value of over half a billion Eaves, the site’s virtual currency.
The new funding will be used towards marketing efforts and product development, including the impending launch of its rewards and advertising programs. The startup faces competition from Klout.
Empire Avenue allows individuals and businesses to measure and benefit from their online influence across blogs and social networks like Facebook, Twitter, Flickr and more. The site empowers individuals to turn the value of their online contributions into real revenue by plugging into an advertising platform focused on delivering highly relevant and targeted ads. Anyone registered on Empire Avenue can buy and sell virtual shares in anyone else on the site for free. A person’s influence score is their share...
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