Investors Feel Good About ifeelgoods' Credits Plan
A successful business model based on giving away Facebook Credits may sound far-fetched, but investors in ifeelgoods are apparently comfortable with the concept.
A successful business model based on giving away Facebook Credits may sound far-fetched, but investors in ifeelgoods are apparently comfortable with the concept.
AllThingsD reported that Idinvest Partners led a $6.5 million capital funding round for ifeelgoods, with participation from Tugboat Ventures — just days before Facebook Credits becomes mandatory for all Facebook application developers and emerges from beta, on July 1.
GameFly, Ice.com, Meijer, Shopping.com, FTD, La Redoute and 1-800-Flowers are ifeelgoods clients. Co-founder and CEO Michael Amar told AllThingsD the platform enables the use of Facebook Credits as an incentive to perform actions such as liking a page, signing up for emails, purchasing products, checking in to locations, or answering surveys.
As for plans for the funding, Amar told AllThingsD the company will hire engineers and salespeople, ramping up to 20 employees by fall, and it is also eyeing international expansion.
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