Tech Pitch: Good-Loop
In today's world of obtrusive online advertising, this charitable start-up is giving consumers, publishers and brands a reason to feel good about ads...
Company name: Good-Loop
Founders: Amy Williams (25) and Daniel Winterstein (39)
Background: Williams is an advertising professional who previously worked at a large London agency, while Winterstein is an experienced entrepreneur with a PHD in data science and a history of building ad technology.
Based in: London & Edinburgh
Very simply, what does your tech start-up do?
Good-Loop converts advertising money into charitable donations.
We plug into existing online advert distribution networks so that publishers and bloggers all over the web can easily install Good-Loop onto their sites, so when their readers visit they see the Good-Loop ad player and have the option to watch an ‘AD FOR GOOD’.
This means you watch at least 15 seconds of advertising and then you can give 50% of the money from the ad to your chosen charitable cause. The rest of the advertising money goes to the publisher as income. If you share the advert on social media, your donation doubles.
Tell us why there’s a need – what do you disrupt?
Have you ever had to sit through a 30-second non-skippable video ad? Have you ever had to search exasperatedly for the ‘X' button to close an annoying pop-up? Have you ever been distracted from what you're reading by a video ad that just automatically starts playing?
Currently, if brands want to get their content out to their consumers online, these are the types of advertising platforms they have to use. Likewise, if publishers want to be able to pay their journalists, this is the type of advertising they have to put on their site.
In the arms race for the best, loudest and most attention-grabbing online advertising solutions, somewhere along the way we forgot about the people on the other side. Good-Loop is unique because it makes user control an asset rather than an inconvenience to online advertising.
£4.7bn was spent on online advertising in the UK last year. Imagine if even just a small portion of that could be funnelled into making the world a better place.
Is Good-Loop funded?
Good-Loop was accepted on the Collider Startup Accelerator at the beginning of 2017 and we are about to announce our second fundraising round.
What were you doing before you started Good-Loop?
My journey started whilst I was working at a big advertising agency in London. I met amazing people and I thoroughly enjoyed using creativity as a tool to solve business problems. But the more I learned about the industry the more I started to see a disconnect between brands and the people they were trying to talk to.
Too often the transaction between advertiser and viewer is at best impersonal and at worst unpleasant. As ad blocker downloads continue to rise and quality journalism continues to suffer the consequences, I was inspired to build a positive solution.
But I knew I couldn’t do it alone. That’s where Daniel came in. Daniel is a highly experienced entrepreneur with a PHD in data science and a track record of building impressive ad technology. And as luck would have it, he came across my job posting on WorkInStartups.com. In October 2016, after a few meetings and indeed a couple of beers, we decided to found Good-Loop together.
What’s the best thing about where you’re based?
We have the best of both worlds really because Daniel and his tech team are based in Edinburgh where there is a thriving tech scene, a network of smart universities and an incredibly start-up-friendly environment.
Meanwhile, I’m in London – one of the biggest hubs of advertising and marketing technology in the world. Huge industry leaders like Unruly and Unilever have their headquarters in London, which presents fantastic opportunities for us to build our network, establish a name for ourselves and grow the company.