AppAddictive has raised $1.2 million in seed funding, according to a news report on TechCrunch. The funding comes from Great Oaks Venture Capital, Siemer Ventures, and Tholons, according to the report.
AppAddictive Raises $1.2 Million For Drag-And-Drop Facebook Page Builder & Ad Platform
AppAddictive, a newly launched DreamIt-backed startup from the 2011 NYC class, has just scored $1.2 million in seed funding for its drag-and-drop Facebook page creation tools and (forthcoming) ad platform.
Designed to bring the same tools the big guys use to smaller businesses and other industry verticals, AppAddictive will offer dozens of easy-to-install applications for Facebook pages, including things like custom landing pages, photo and video galleries, static HTML, quizzes and more.
The funding comes from Great Oaks Venture Capital, Siemer Ventures, and Tholons.
The current list of apps is somewhat modest – there are now around ten or so drag-and-drop applications available that let you add things like a YouTube gallery or a signup form to a Facebook page. But, explains founder Mike Onghai, the goal is to expand the selection into a veritable “app store” for Facebook pages, with sections dedicated to industry verticals. For example, the finance vertical might have specialized apps like “currency quotes,” while mortgage companies could have apps that showed current mortgage rates, and so on. He says they’re already working with Aviary and email marketing company Vertical Response for upcoming apps, and plan to release new apps at a steady pace.
The idea is that businesses can use the apps to turn visitors into followers, follower into leads, and leads into customers. When the service exits beta, it will be a freemium offering, but all the apps are free to use for now. What’s more, all the apps beta testers install will remain free forever.
In addition, the company is developing a Facebook ad campaign manager which will work hand-in-hand with the Facebook page builder. The ad platform will include features like bulk upload, ad creative testing, ad targeting and optimization tools, and analytics for tracking clicks, conversions and actions.
The company plans to have the ad platform up and running by spring and will later expand its toolset to other social platforms in the summer, including Twitter, LinkedIn and Google+.
AppAddictive’s founder Mike Onghai was the third guy at GeoCities and more recently, a hedge fund manager at Ibis Management. He’s joined by his sister, Judy Onghai, Ph.D., also a Co-Founder.