The Top 500 retailer buys Campus Deals, which offers mobile coupons to college students.
Ifeelgoods, a digital rewards marketing firm, raises $6.5 million
The news comes as Facebook requires game developers to accept Facebook Credits.
Topics: 1-800-Flowers, digital rewards, Facebook, Facebook Credits, funding round, Gamefly.com, Gap, Idinvest Partners, Ifeelgoods, investment, Michael Amar, online gaming, online payments, Shoebuy.com, social gaming, social media, Tugboat Ventures, virtual currency
E-marketing firm Ifeelgoods, which enables e-retailers to offer digital rewards such as Facebook Credits in marketing promotions, today announced it has raised $6.5 million in a Series A funding round.
Ifeelgoods will use the funds to expand the number of digital goods incentives it offers e-retailers as it looks to reach customers in new vertical and international markets.Since launching last September, Ifeelgoods has signed more than 20 customers, including Shoebuy.com, Gap, 1-800-Flowers and Gamefly.com; Shoebuy offered a promotion in which it gave consumers 50 Facebook Credits for each purchase. Facebook Credits are the social network’s virtual currency mainly used to pay for online games and virtual goods within games.
“Combined with our success in servicing Top 100 online retailers and major brands in both the U.S. and Europe, this investment is further validation of our vision to make digital goods a new and more efficient marketing channel for driving sales and engagement,” says Michael Amar, co-founder and CEO of Ifeelgoods. “Ifeelgoods will use this new capital to accelerate growth worldwide, introduce new and innovative products and services, and better serve our customers.”
European venture capital firm Idinvest Partners led the funding round, with Tugboat Ventures also participating.
Ifeelgoods’s announcement comes days before a Facebook deadline that will require all social game developers to include Facebook Credits as a payment option for the purchase of virtual goods on the social network.