Loyalize, a social TV audience platform, has been been acquired by Function(X) for $5M in cash and stock. The company intends to integrate Loyalize into Viggle, a television loyalty product designed for iOS devices.
Smirin, along with his GetTaxi co-founder, Roi More, are also the founding duo of Vigoda.ru, a major daily deal site in Russia and the Ukraine with expected revenues for 2012 in the range of $200-250M.
Loyalize’s white-label platform allowed audiences using mobile devices and connected TVs to engage with TV shows, sporting events, and political debates by way of games, polls, discussion and sharing. Viewers were awarded badges and loyalty points, redeemable for real rewards.
The company’s customer roster included Yahoo and Viacom/MTV. Its platform was also utilized in this year’s Superbowl & Grammy Awards.
Smirin believes Loyalize has found a perfect home as in his eyes FunctionX’s strategy is to establish itself as a key social TV player. Worthy to note that FunctionX which has a market cap of nearly $1B was founded by Bob Sillerman, owner of, wait for it—American Idol.
Loyalize was a Social TV product of choice to run such biggest events as: Superbowl’12 and Grammy’s 2012! as well as Australia Open, CES’12 live show, and more… Loyalize is an audience participation company. Providing white-label services for brands and content providers to engage nationwide audiences during live TV shows, sporting events, and political debates. Loyalize converts passive viewers into active participants, playing games, answering polls, discussing and sharing with other viewers right from their smart phones, tablets, laptops,...
Vigoda.ru is one of the largest internet retails in Russia & Ukraine. “Groupon style” business operating in all 94 largest cities across Russia and Ukraine. Our offices are in 29 cities employ ~260 talents. 2012 revenues are expected to be around ~$250M and profitable. $8M of investment capital has been raised. UPDATE: in March 2011 Vigoda acquired leading Ukrainian daily deal site “Gorod24” to enter Ukrainian market. UPDATE2: in June 2011, Vigoda.ru, won Consumer Choice 2011 Award, among such brands as Procter &...