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.