In May 2009, we covered the launch of Fotomoto, a Web-based photo monetization service built by the eponymous startup based out of San Francisco.
The product has grown a lot since then, and founder & CEO Ahmad Kiarostami informs us that they have signed up 2800 website publishers since launching publicly, which translates to some 610,000 photos to date.
Some of these publishers are big names – Mirror.co.uk for instance uses Fotomoto to monetize its photographs on-site.
Fotomoto’s website has recently received a make-over, and now doubles as a browser-based marketplace where photographers and publisher can promote and sell images, in addition to having Fotomoto power the payment capabilities on their own and third-party websites. When people add photos to their own sites, Fotomoto’s toolbar sends out a notification, after which new pictures are automatically added to the marketplace on Fotomoto.com.
The startup refers to this decentralized way of selling photos online as self-commerce or “CafePress inside-out”, both of which terms reflect perfectly what the service is all about.
(By the way: if you haven’t gotten your significant other something for Valentine’s Day yet, the startup is running a special right now with custom prints, cards, & e-cards on display.)
Fotomoto has raised $623,000 so far from investors like Amidzad Partners and Draper Fisher Jurvetson, but Kiarostami for the first time disclosed that Mehdi Maghsoodnia – former COO / VP of CafePress and currently CEO at BookRenter – has also participated in its second funding round, as well as joined the startup as a Board member.
In addition, SGN founder and Chairman Shervin Pishevar made a minor investment and signed up as an advisor to the company. Another noteworthy advisor on the list is Touraj Parang, co-founder and COO of Jaxtr.
Keep a good eye on this one.