GetGlue announced a new round of financing today, $12 million led by by Rho Ventures. The New York-based company has created a culture within their environment around checking into TV shows, movies and more. GetGlue stickers, that were once compared to Foursquare badges are now popping up in real life on laptops and are being created by most TV brands.
The company raised $6 million in November 2010 from TimeWarner, RRE Ventures, and Union Square Ventures, and it’s now boasting 2 million users and 350 million check-ins (scroll below for GetGlue’s infographic on 2011). They’ve partnered with over 75 networks across the US and UK, helping to define what social TV is for the content providers. Founder and CEO Alex Iskold spoke to us about the announcement and the future of social TV.
“The future of Social TV is user engagement and participation on the second screen,” Iskold told Lost Remote. “It is first and foremost about conversations – saying I am watching this show, here is what I think and talking about it with my friends and other fans of the same program,” he explained. Regarding social TV as a discovery tool he explained his own needs. “I want to discover new shows and entertainment based on ones I already like.” Lastly he described the importance of incentives and rewards. “Social TV presents a unique opportunity for networks and consumer brands to reach and reward passionate and loyal fans,” which they’re doing very well via their sticker program so far.
2012 will be a critical year for GetGlue has the competition has increased both in the social TV space and across the social web in general. In a tough economy brands are struggling enough to manage consistent and effective tweeting, Facebook posting and more. They’ve built phenomenal relationships with TV networks but it’s unclear how they can tap into a traditional business model. Will they start charging for stickers like Foursquare did with badges? Will they launch and analytics tool to compete with Networked Insights, Bluefin Labs and Social Guide? Will they expand MSO partnerships beyond DIRECTV or becoming a powerful Smart TV app? While the coming year will still be about growing their users, I’m sure these are questions there new investors will be asking and that we’ll be covering. In the meantime, here’s a fun info graphic they put together on social TV in 2011:
