The Series B round for Witherspoon’s Draper James brand was led by San Francisco-based Forerunner Ventures.
The tool guaranteed marketers their ads would reach 75% of their fan bases.
Facebook Inc. is phasing out its Reach Generator tool less than seven months after it was launched at the Facebook Marketing Conference in February, says a spokeswoman for the social network.
Reach Generator enabled marketers to pay a fixed fee to sponsor page posts and guarantee that their ads would be seen by 75% of their fan bases over the course of a month. Those ads could appear either in the news feed, which displays the actions of a consumer’s connections on the social network, or in display ads, which Facebook calls marketplace ads, which appear on the right side of Facebook.com pages.
Facebook is shifting its focus to Promoted Posts, which enable marketers to manually select which posts they would like to promote.
“Reach Generator does not allow you to pick and choose which posts you want to promote,” she says. “Promoted Posts give advertisers more flexibility. Rather than separately building and maintaining new features for Reach Generator to address these limitations, we are focusing on enhancing the Promoted Posts feature to maximize Page reach.”
The news dovetailed with Facebook today releasing a new version of its Pages Manager app that allows businesses to buy Promoted Posts on their mobile devices. "Being able to purchase Promoted Posts on mobile was a widely requested feature from small businesses, so we're now making it easier for businesses of all sizes to buy ads directly from their mobile phones," says the spokeswoman.