Type Public Area served Worldwide Founded 2010 | Traded as SRAX Revenue 30.2 million USD (2015) Number of employees 120 | |
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Industry Online advertising
Advertising technology
Social marketing technology Founder Chris Miglino
Erin De Ruggiero Key people Chris Miglino, CEO
Richard Steel, President
Chad Holsinger, CRO
Erin DeRuggiero, CIO
Kristoffer Nelson, COO
JP Hannan, CFO
Dustin Suchter, CTO Stock price SRAX (NASDAQ) US$ 2.00 +0.01 (+0.50%)24 Mar, 4:00 PM GMT-4 - Disclaimer Headquarters Los Angeles, California, United States | ||
Social Reality, Inc. is an Internet advertising and marketing technology company. It specializes in developing tools that automate online advertising and digital marketing activities.
Contents
History
Social Reality was founded in 2009 and is headquartered in Los Angeles. In March 2010, Social Reality CEO and CIO, Chris Miglino and Erin de Ruggiero, started selling advertisement on Facebook with the aim of helping Facebook applications monetize their products and assess brands marketing. The company grew from selling ads to developing customized applications for large brands. From that, it developed GroupAd that offers different applications to different brands. Thereafter, to better help publishers fill out their inventory they built a RTB (Real Time Bidding) platform, SRAX. On Jan. 27, 2015 Social Reality announced its addition of Martin Sumichrast to its Board of Directors.
Products
The company's first product, GroupAd, is a brand loyalty platform that provides instant rewards and feedbacks for consumers. The backbone of loyalty shows brands who their influencers are so that they can utilize this information to further hence their marketing efforts. GroupAd as a consumer facing product is a suit of marketing applications.
The second product released by the company is SRAX, a platform built to aggregate and optimize the disperse real time bidding channel so that publishers could utilize this revenue channel more effectively. Early on it focused on the selling side of the Programmatic Advertising market and it built its capabilities and expertise on the buying side as well by developing state of the art algorithm and practices to optimize the bid and targeting relationship.
Both Social Reality businesses complement each other. Brands' advertisement attain their social marketing campaigns through traditional media purchased through the buy side of the SRAX platform. GroupAd provides extensive audience data that brands can target for their ads through the SRAX platform. Ultimately SRAX and GroupAd merge toward Social Reality vision which is to both automate and make digital ads available, affordable and efficient for all brands' markets and businesses of any size.
Financing
Social Reality was profitable from its inception and utilizing the money to fund the growth of the company. Instead of seeking traditional Venture capital funds for the company, Social Reality decided to list the company in the US Over-the-counter market. It went public in October 2012 and by January 2013 it raised approximately $5.2 million through various public offers. On October 13, 2016 the company was up listed to the NASDAQ Capital Market and its Class A Common Stock began trading under the symbol SRAX.
Company overview
The company headquarters is in Downtown Los Angeles, in the Arts District. Social Reality also operates offices in Minneapolis, Milan, Italy and in Mexicali, Mexico. As of October 2016, the company employed 120 people.