NeoReach

NeoReach_Company_Logo.jpg

NeoReach is an online influencer marketing platform that allows brands to acquire new users by leveraging endorsements from social media influencers. The company gained notoriety when its 19 year-old founder, Jesse Leimgruber, raised over $1.5 million USD in venture capital funding while still a student at Stanford University.

Business Model

NeoReach connects brands with bloggers and social media influencers who are looking for new products to endorse. Those brands pay per click for each visit that the influencer sends to their content. NeoReach uses a matching algorithm that automatically pairs users with relevant brands. Conversely, brands are matched with influencers that are expected to send sales and conversions.

As of September 2014, the company does not charge a fee for using the service, nor do they take a percentage of the cost per click. However, the company eventually plans to earn revenue by taking a percentage of the advertisers cost per click.

History

In 2013, the company was invited into The Alchemist Accelerator, a business incubator ran by one of Jesse Leimgruber's professors at Stanford University. The company launched a closed beta in December 2013. Shortly thereafter, NeoReach raised outside investment from notable Silicon Valley angel investors.

In early 2014, the team expanded their agency partnerships and quickly penetrated the mainstream market. It was during this time when NeoReach was invited by Splunk founder, Michael Baum, to join Founder.org. NeoReach was among 10 startups that won a $100k grant from the program. After getting to know the company better, Founder.org led the company's seed round. This sparked interest from notable entrepreneurs and investors such as Expedia co-founder, Greg Slyngstad, Matt Mochary, among others.

In August 2014, former oDesk CEO, Gary Swart, joined NeoReach as an advisor. Upon joining, Swart wrote that NeoReach has a "Smart, resourceful team and interesting approach to a massive market opportunity."

In September 2014, NeoReach had over 10,000 bloggers and social media influencers using the platform. ACTIVE influencers include tech blogger, Chris Pirillo, professional surfer, Anastasia Ashley, and American Idol star, Kayden Stephenson.

See also

  • Influencer marketing
  • Digital marketing
  • Stanford University