We are pleased to announce that we have closed a 6M round of funding led by TimeWarner Investments, with participation from our current investors RRE Ventures and Union Square Ventures.
2010 has been a very successful year for GetGlue. The social network has seen over a 20x increase in key metrics since January, signed key partnerships with over two dozen major entertainment brands, and established itself as the leader in the emerging social entertainment space. This funding is a testament to both GetGlue’s accelerating growth and the importance of the social entertainment space at large.
We are thrilled to be working with Time Warner and our existing investors, RRE and Union Square Ventures. Time Warner Investments has a portfolio of companies that collectively are transforming the media and entertainment space, and we are very excited to join this group. Time Warner has been a leader in the entertainment space for decades, and we look forward to working with them to accelerate the growth of our business.
To date, GetGlue has partnered with over 25 top entertainment companies. The fact that major entertainment brands are working with GetGlue indicates interest in and excitement around social entertainment. Reaching and rewarding fans is increasingly important, and GetGlue connects brands and fans in just the right way. The brands benefit from the new way people are connecting to the media they consume, while fans enjoy recognition and discounts.
GetGlue partners include 20th Century Fox, AMC, ABC Family, Disney Theatrical, Discovery, ESPN, FOX, Food Network, Hachette, HBO, HGTV, MTV, MSNBC, Showtime, Penguin, PBS, Random House, Simon and Schuster, Syfy, Sony Pictures, Travel Channel, USA Network, Universal Pictures, and Warner Bros. theatrical. Existing partners are expanding the promotions and rewards offered to GetGlue fans. A set of exciting new partnerships is in the works and will be announced shortly.
Product and Platform Roadmap
The proceeds of this financing will help GetGlue implement an exciting product roadmap in 2011, including continuous improvements to the core functionality, scaling the GetGlue service across new devices and platforms, new partnerships and expanded relationships with existing partners, and the introduction and expansion of the GetGlue Social Entertainment Platform.
Effective immediately, GetGlue announces the general availability of the GetGlue Social Entertainment Platform. The platform consists of a GetGlue API and a set of widgets for websites, Facebook, iPhones, and iPads. The Platform enables third parties to easily incorporate GetGlue check-ins, rewards, recommendations, and other aspects of the GetGlue network directly into their applications.
The platform is already being used by a dozen top entertainment partners — including 20th Century Fox, USA, Showtime, and Sony — to bring social entertainment functionality to their websites, Facebook pages, and mobile applications. In addition, several major partners are working on integrating the platform into their iPhone and iPad applications. There are also plans to integrate directly into television sets and set-top boxes.
We are also delighted to announce that Fraser Kelton has been promoted to Chief Operating Officer. He previously served as the Vice President of Business Development and was instrumental in establishing existing partnerships. GetGlue founder and CEO Alex Iskold will continue to focus on the Product, Platform, and strategic integrations.
GetGlue is planning to open a new HQ in New York early next year and is actively recruiting for top engineering, product, and business talent in New York and Los Angeles. The list of current openings can be accessed via http://getglue.com/about
And last, but certainly not least, we’d like to take this opportunity to thank our users, who have been unbelievably enthusiastic and supportive of our work. Thanks so much, we would’ve not be able to get this amazing opportunity, if it was not for all of you!
And now back to making stickers, suggestions, streams, widgets, discounts and all things that collectively amount to this great new experience called social entertainment.