Tech Pitch: Fanbytes
The “AdWords for influencer marketing” start-up explains why advertising to millenials is “broken” ...
Company name: Fanbytes
Founders: Timothy Armoo (20) and Ambrose Cooke (20)
Based in: Kings Cross, London
Very simply, what does your tech start-up do?
- Fanbytes helps brands – both big and small – to engage with a millennial audience through collaborations with social influencers. Our users include Nickelodeon, New Look and fast growing start-ups such as Grabble and Mallzee.
- Businesses come to us because they want to increase brand awareness and consequently drive downloads, subscriptions, sales or just general engagement to a millennial audience . Our technology provides them with the tools to collaborate and create content with social influencers from YouTube, Instagram, Snapchat and Twitter in order to reach this audience.
- On the side, these social influencers use Fanbytes as a way to monetise and grow their audiences in authentic engaging ways.
Tell us why there’s a need – what do you disrupt?
Advertising to millennials is broken. It used to be the case that if you wanted to advertise to the traditional 24 year-old girl, or 13 year-old boy you could take a bunch of TV or print publications and just shove them in the face of your target audience.
With the evolution of digital media and, particularly social media, this millennial audience has moved to a new form of media such as YouTube, Instagram, and Snapchat and thus the old rules of marketing don’t work anymore. There is a need for brands to engage in advertising which does not disrupt the experience of a fickle millennial audience but rather weaves and enhances the experience.
Influencers have an authentic, natural relationship with their audiences whether it be over Facebook, Instagram or Twitter and for a brand to leverage that relationship to tap into an audience, there’s a new way of brand awareness and engagement.
Are you funded?
Yes, we raised some money last year from some great investors in the consumer retail space. We’re now raising again from some seasoned veterans in the tech start-up space as we move more towards achieving our goal of being the “AdWords for influencer marketing”.
What were you doing before starting?
We had been tinkering about with some ideas before hand. Prior to Fanbytes, Armoo sold a small start-up and was itching to do something new. After a few failed attempts at trying to create something in the crowdfunding space and experiential commerce industrie Armoo and Cooke realized they were not solving a true painkiller problem.
Through some serendipity we stumbled upon this problem that brands are facing and realised that by taking a tech approach to the solution, we could create something valuable.
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What’s the best thing about where you’re based?
We’re quite close to the Shoreditch area so that bodes well for reaching forward thinking start-ups. Being quite close to the advertising world in Shoreditch is also fantastic as we look to form various relationships with agencies.