From search to user-generated content to social media, I’ve witnessed a number of digital retail game-changers over the past decade. There’s no doubt in my mind that virtual goods will be the next disruptive business model for this industry.
Menlo Park, CA (PRWEB) September 20, 2010
A new company has been formed to help retailers harness the burgeoning worlds of virtual goods and social gaming. Ifeelgoods, launched by e-commerce entrepreneur Michael Amar, former Shop.org Executive Director Scott Silverman and alumni from Google and PayPal, 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.
“In retail, incentives and promotions are critical sales tools – especially in the current economic environment – but, they are one-size-fits-all and can be very expensive,” said Michael Amar, Ifeelgoods CEO and company co-founder. “As social networks and social games become even more integral in people’s daily interactions and personal relationships, it’s evident that retailers who learn how to capitalize on these trends will have a powerful advantage over their competition.”
Ifeelgoods will partner with leading publishers of social games to make their virtual goods and virtual currencies available to retailers to offer as incentives to customers. Social game publishers benefit from exposure to existing and new players and increased sales of virtual goods and virtual currencies.
“From search to user-generated content to social media, I’ve witnessed a number of digital retail game-changers over the past decade,” said Scott Silverman, Ifeelgoods co-founder and Vice President of Marketing. “There’s no doubt in my mind that virtual goods will be the next disruptive business model for this industry.”
Executives from Ifeelgoods include a diverse representation of leaders from the retail and service provider communities. Amar, an entrepreneur and investor in the online industry since 1995, founded AGORAD, which was France’s largest independent online media agency when he sold it in 2007. Silverman, who served as the executive director of Shop.org since 2001, brings with him a powerful understanding of top trends in e-commerce along with deep and broad connections with the retail industry’s top leaders.
Other executives to join the company include Dimitri Ducourtieux, Chief Operating Officer and Vice President of Europe, who previously led major technical projects for top European retailers including Otto Group, Intermarché and Yves Rocher; Suchit Dash, who joins as its Vice President of Product after an extensive career at PayPal; and Vida Ha, who spent five years as a senior software engineer at Google before joining Ifeelgoods as Lead Engineer.
Ifeelgoods is supported by an illustrious Board of Advisors, including Iggy Fanlo, CEO, AdBrite (Fanlo is also an investor in Ifeelgoods); Siva V. Kumar, Co-Founder & CEO, TheFind, Inc; David Marcus, CEO, Zong; David Selinger, CEO, RichRelevance; and Meir Zohar, Founder and CEO, eXelate.
Ifeelgoods has raised $1.1 million in venture funding from a group of savvy and experienced venture capital firms and investors, including Tugboat Ventures; Kima Ventures; Quest Venture Partners; Vincent Worms and Nicolas El Baze, Co-Founder and Managing Partner and General Partner, Partech International; and David Scacco, Chief Revenue Officer, MyLikes
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. Requiring light integration, Ifeelgoods is a hosted solution that manages a retailers' virtual goods promotion offers, redemption and customer service. Ifeelgoods is headquartered in Menlo Park, California and has locations in Washington, DC and Paris, France.
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