Web 2.0 Expo Startup Showcase Win Fuels Ifeelgoods’ Momentum and the Growth of Virtual Goods Incentives as a Marketing Channel

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Coming on the heels of a number of new client implementations and the increasing use of virtual goods incentives as a marketing tool, Ifeelgoods, a new company that helps marketers and brands use virtual goods in their marketing as an alternative to traditional incentives, announced today that it won the Startup Showcase at the 2011 Web 2.0 Expo on March 29 in San Francisco.

We are honored that two highly respected members of the startup community recognized Ifeelgoods’ virtual goods incentive product, which gives marketing executives an important new tool to improve their businesses.

Coming on the heels of a number of new client implementations and the increasing use of virtual goods incentives as a marketing tool, Ifeelgoods, a new company that helps marketers and brands use virtual goods in their marketing as an alternative to traditional incentives, announced today that it won the Startup Showcase on March 29 at the 2011 Web 2.0 Expo in San Francisco.

The judges, Robert Scoble, a popular technology evangelist, and Ann Winblad, a technology leader and Managing Director, Hummer Winblad Venture Partners, selected Ifeelgoods from a group of 30 startups that had applied and been accepted as participants in the contest. Scoble and Winblad cited Ifeelgoods’ creativity, innovation and fast growth as reasons for picking it as a winner.

"Today's startup ecosystem is brimming with great ideas, innovations and inspiring entrepreneurs," said Winblad. “Ifeelgoods has all of these, but what sets them apart is how well they have leveraged social media and virtual goods to bring an innovative and valuable product to drive revenue for online retailers."

The Web 2.0 award comes less than a month after online retailer, Shoebuy.com, won the eTail Best in Class Award for Social Media for its Facebook Credits campaign powered by Ifeelgoods.

Ifeelgoods has executed Facebook Credits incentive campaigns for 1-800-Flowers.com, Netflix, Shoebuy.com, Lifetime Brands, The Golf Warehouse, The Dallas Mavericks, ShopAtHome, 1-800-PACK-RAT and La Redoute, the #1 e-commerce site in France.

“The search for the next big marketing idea never ends,” said Ifeelgoods Co-Founder and CEO Michael Amar. “We are honored that two highly respected members of the startup community recognized Ifeelgoods’ virtual goods incentive product, which gives marketing executives an important new tool to improve their businesses.”

Facebook Credits as an incentive in e-commerce sites and in online advertising was unheard of six months ago. Today it’s delivering unprecedented performance improvements for online retailers and online marketers. Results include the doubling and tripling of click-through rates of online ads featuring Facebook Credits. Additionally, conversion rates for offers with Facebook Credits are 30 percent to as much as five times higher than similar offers of equal dollar value.

About Ifeelgoods, Inc.
With its patent-pending digital goods incentive system, Ifeelgoods makes online retail promotions more effective and less expensive by using relevant virtual goods and currencies from the most popular social games in place of traditional promotions such as discounts, coupon codes or gifts with purchase. Current clients include 1-800-Flowers.com, Shoebuy.com, Dallas Mavericks, Lifetime Brands, Netflix, La Redoute, 1-800-PACK-RAT, and The Golf Warehouse. Requiring light integration, Ifeelgoods is a hosted solution that manages retailer virtual goods promotion offers, redemption and customer service. Ifeelgoods is headquartered in Menlo Park, California, and has locations in McLean, Virginia, and Paris, France.

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Scott Silverman
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