Today one of our portfolio companies BigDoor announced the acquisition of San Francisco-based OneTrueFan, a community and web check-in company. We invested in BigDoor a little over a year ago and they’ve made amazing progress on their gamified loyalty platform since then. In addition to having over 300 live customers, BigDoor is also conducting a private beta of a truly innovative solution that they call the Engagement Economy, and we expect it have long lasting implications on how the digital world engages and monetizes their audiences.
Recently the market demand has been outpacing their ability to keep up, so they turned to OneTrueFan as a means of accelerating their product development and overall growth. When there is a great fit, I love seeing our portfolio companies make acquisitions. In this case, BigDoor gains access to a team of incredibly talented entrepreneurs (led OneTrueFan co-founders Eric Marcoullier and Todd Samson), thousands of publishers, and tech that fits perfectly into BigDoor’s gamified loyalty platform.
The former OneTrueFan team will be primarily focused on building and running a BigDoor branded rewards program that is targeted to long tail and medium size web publishers. When they launch BigDoor Rewards next month, it will carry with it many of the same characteristics publishers loved from OneTrueFan; brain-dead simple to implement, great analytics, increased content sharing, and far more user engagement. Shortly thereafter BigDoor will be taking the wraps off of their Engagement Economy private beta, and making it publicly available to larger publishers and online communities.
Todd and Eric have been friends of mine for a long time. Between the two of them they have co-founded IGN.com (IPO in 2000, acquired by NewsCorp in 2005), MyBlogLog (acquired by Yahoo in ’07) and Gnip (which I’m an investor in). Needless to say, I’m excited to see what happens as they join the BigDoor team.