|Seed, 6/2005 |
|Series A, 4/2008 |
Asset Management Company
|Debt, 9/2009 ||$1.5M|
When Loomia first launched in June of 2005, they provided recommendations for podcasting content on their own site. A few weeks after they launched Apple added podcasting support to iTunes. This killed any hope Loomia had of becoming the leader in the “podcast finding” market. They decisively turned to “Plan B.” They took the recommendation engine that they already had and turned it into a tool that can be used by ecommerce and content websites to suggest new stuff to users.
While some sites like Amazon can afford to develop their own in-house solutions, many others can’t and need to outsource this. That’s where Loomia steps in. They claim that using their product, media and retailer sites can have recommendations up and running in minutes.
Loomia recently locked up a marquee business development deal with the Wall Street Journal. The module, which appears next to stories, suggests other Wall Street Journal content based on what the user has read previously on the site, and compared to what other users have read, too.
Founded in 2004, Loomia is funded by a number of the top angels in Silicon Valley. Loomia competes directly with Aggregate Knowledge, a high flying startup that has raised a total of $25 million in venture capital.
Hyve Up interview with David MarksAdded: 2/26/08
This video was originally posted on Beet.TVAdded: 12/16/09
|Launch Date||July 16, 2007|
|Closed Date||January 1, 2011|
|Tags||loomia, recommendation, recommendation-engine, wiki|
Loomia is a recommendation engine that is used by ecommerce and content websites to suggest new stuff to users. They easily allow sites to add suggestions like, “based on your browsing history we recommend ” and “people who liked this also liked .” They claim their recommendations drive up page views and increase click-throughs by up to 20%.
The recommendation widgets are easily integrated into your site and customizable. They say you can “get up and running in minutes” and that their “hosted service requires no software installation and works for large and small sites.”
They charge a CPM for content sites and a percentage of sales that can be tracked to referrals for ecommerce sites. They also offer a free version, but it includes text ads.
Loomia’s SeenThis? is a technology that shows readers which articles and videos are popular with their social network contacts from the following online news sites (i.e.WSJ.com, CNET, and NBC.com).