Marc Benioff, founder, chairman and CEO of Salesforce, has invested an undisclosed amount of seed funding in MovieLaLa, The company, which operates a social network and marketing platform for upcoming movies, has now raised $750,000 in total seed funding. Previous backers include Allen DeBevoise, chairman, CEO and co-founder of Machinima, a provider of a worldwide video entertainment network; Jim Moloshok, a former executive at HBO and Warner Bros; Larry Braitman, a founding investor in Flixster; Wealthfront CEO and President Adam Nash; and Manatt Digital Media Ventures. MovieLaLa is available here.
Salesforce.com CEO Marc Benioff Invests in MovieLaLa
Founder, Chairman and CEO of Salesforce.com Helps Fuel MovieLaLa’s Upcoming Launch
Total Amount of Seed Funding and Angel Investments Reaches $750,000
SAN FRANCISCO (April 29, 2014) – MovieLaLa, a social network and movie marketing platform for upcoming movies, today announced it has received additional funding from top industry influencer Marc Benioff, the founder, chairman and CEO of Salesforce.com (NASDAQ: CRM), currently ranked the most innovative company in the world by Forbes magazine. With Benioff’s investment, the total amount of MovieLaLa seed funding and angel investments has reached $750,000.
The capital infusion will help MovieLaLa’s goal of rebuilding the traditional movie marketing model by being a data-driven marketing platform for studios. Offering movie fans an exclusive social network and movie studios valuable target audience data, MovieLaLa will connect movies, stars and fans all in one destination. Viewers will be able to discover coming attractions through a personalized Hollywood feed based on their friends and favorite stars, while movie marketers can increase the buzz and engagement surrounding upcoming movies and ensure strong opening week sales.
“Movie studios are spending hundreds of millions of dollars to market movies without the analytics and data to know where to target that marketing and to know it’s working,” said Benioff. “MovieLaLa brings those studios the data they need to make informed decisions. I believe there’re a lot of opportunities in CRM [customer relations management] tools that studios can benefit from.”
A best-selling author, Benioff started Salesforce.com in March 1999 and is the creator of the term “platform as a service.” Prior to founding global cloud computing company Salesforce.com, Benioff was at Oracle for 13 years and became vice president at age 26, the company’s youngest person to hold that title. Before joining Oracle, Benioff worked as a programmer at the Macintosh Division of Apple Computer, inspired by Steve Jobs. In 2010, Fortune named him one of the Smartest 50 People in Tech as well as one of the Top 50 People in Business.
“We look forward to furthering our mission by closing the missing loop in movie marketing by helping studios optimize their marketing dollars through more effective online targeting with movie fans,” said Dana Loberg, CEO and co-founder of MovieLaLa. “Marc, our other investors, and the MovieLaLa management team want MovieLaLa to be the trusted partner for studios that can market their movies with data and analytics.”
With connections to both the tech-centric Silicon Valley and entertainment-centric Los Angeles, MovieLaLa will bridge the gap between Silicon Valley and Silicon Beach. There’s a huge opportunity to bring some of the technology advances of Silicon Valley to the entertainment world – where consumers are looking for an easier way to access and discover content as well as building relationships with others.
Benioff joins previously announced investors such as Allen DeBevoise, the chairman, CEO and co-founder of Machinima; Jim Moloshok, past president of digital initiatives for Home Box Office and co-founder and president of Warner Bros. Online; founding Flixster investor Larry Braitman; producer Angie Wang; Adam Nash, former executive in residence at Greylock Partners; and Manatt Digital Media Ventures, a top legal and business consulting branch for clients in the digital media, entertainment and advertising industries. Some of these investors can be seen sharing their thoughts on movie marketing and MovieLaLa here: https://movielala.com/angel. If interested in joining them and becoming an angel investor, check out https://angel.co/movielala for more information.
MovieLaLa (http://MovieLaLa.com) is a social network for upcoming movies where fans follow stars, discover upcoming movies and share their favorites with friends. MovieLaLa improves first box office sales by creating and turning word-of-mouth about upcoming movies into an effective marketing opportunity for studios and movie marketers.