In a couple of days, Facebook will require game developers to implement its Facebook Credits currency, as announced in January 2011 (much to the dismay of some developers, although we should also note that several juggernauts, including Zynga, EA and RockYou, were already on board).
This morning, Ifeelgoods is announcing that it raised $6.5m to strengthen its offering ahead of the July 1 Facebook Credits implementation deadline. Ifeelgoods offers a platform that allows retailers to provide Facebook Credits as marketing incentives in their online stores.
Basically, Ifeelsgoods wants to make online retail promotions more effective (and less expensive) for sellers by having them hand out credits for virtual goods from popular social games in lieu of traditional promotions such as discounts, coupon codes or gifts.
The Series A round was led by Idinvest Partners, a European VC firm, and joined by Tugboat Ventures, which had also participated in the company’s $1.5 million seed round.
Ifeelgoods says it will use the additional capital to expand its digital goods incentives solutions to better serve existing customers as well as reach customers in new vertical and international markets. Since its launch in September 2010, Ifeelgoods has signed more than 20 customers, including 1-800-Flowers.com, Ice.com, Shopping.com and La Redoute.
These brands have implemented Ifeelgoods solutions to leverage digital goods, beginning with Facebook Credits, as an incentive for purchases, online advertising, Facebook fan acquisition, email signups and Twitter marketing.
Ifeelgoods is a French/American startup founded by e-commerce entrepreneur Michael Amar, former Shop.org Executive Director Scott Silverman and alumni from Google and PayPal.
Related stories:
How Facebook Can Become Bigger In Five Years Than Google Is Today
Sean Parker: Credits Poised To Make Up 1/3 Of Facebookâs Income
Ifeelgoods makes online retail promotions more effective and less expensive by using relevant virtual goods and currencies from the most popular social games in place of traditional promotions such as discounts, coupon codes or gifts with purchase. Requiring light integration, Ifeelgoods is a hosted solution that manages a retailers’ virtual goods promotion offers, redemption and customer service. Ifeelgoods is headquartered in Menlo Park, California, and has locations in New York, NY and Paris, France. Ifeelgoods will partner with...
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