Describe the company – the elevator pitch …
Friendz is a tool that lets multinational companies involve a community of users on social networks for marketing purposes. Users get rewarded for creating contents for brands and sharing these contents on their personal social network profile. Friendz has an already working product, €1.2m in revenues, 200 clients (multinational companies) and a community of 200k users.
How are you different?
Friendz is a working product and has a solid business, with 200 clients among top multinational companies, 1.2 millions euros in revenues, 200.000 crazy users in Italy and Spain. It receives a first. The app has been launched in 2016 and is going to be released all over the world, while the desktop version is already available in English
What is Friendz innovation
Friendz created a revolutionary marketing channel powering the word of mouth on social networks. Friendz shifted brands’ communication from top-down to peer-to-peer as the advertising contents are shared on thousands of private profiles of people that like to use socials for fun. The size of the audience reached is the same of VIPs, but consists of the close connections of thousands of micro influencers. In this way, the advertising message shared on their profile reaches their friends in a genuine and natural way and is much more effective.
Where are you based?
Friendz headquarters are based in Switzerland, and has 3 other offices in Milan, Rome and Madrid.
How does your business model work?
Client companies purchase marketing services form Friendz. Friendz involves users in the creation of contents for those companies. Users share the contents on their social network profiles and get rewarded with virtual money. A network of skilled users, called approvers, checks every content before it is published. Users and approvers can spend their reward to get gift cards and vouchers or in Friendz online store.
When was the company launched?
The company was born in 2016. Few months later it received a first round of financing of € 500,000 from Triboo Group, a public company top player in the digital marketing industry.
What have been your biggest wins to date?
In just two years we already reached important milestones: we exceeded 1 millions euros in revenues and have been collaborating with top brands. We are proud of our crazy community of 200,000 super engaged users that daily interact with us and among each other on our media channels. We recently started the expansion abroad: in just two months, our Spanish community has grown from 0 to 15,000 people. All this has been possible thanks to our team that now counts 35 smart and passionate guys with different backgrounds and an entrepreneurial spirit. Our main strength is the ability to provide high quality services in an unconventional way.
How do you control the contents created by users?
We built a decentralised validation system made by highly qualified users, called approvers, that manually screen contents verify that the content is original, high quality, has the right caption and hashtags. If one or more rules are not respected, the content is rejected and the user should upload a new one. Otherwise, the content is automatically published on the user’s personal social profile. Approvers are ranked according to the accuracy of their approvals and rewarded for every content validated.
Tell us about your team?
We are a young team, with an average age of 24. Friendz was born from the idea of three young entrepreneurs, Alessandro, Daniele and Cecilia, that left their full time jobs to completely dedicate to their new project. They made the team grow attracting young and smart people, paying particular attention to their attitude. We believe that the skills can be learnt by doing, but you must have an innate spirit of condivision and pulse to innovate. Basing on these values, we hire new team members with flames burning in their eyes.
What about your ICO project?
Friendz is now launching an ICO. We are introducing the blockchain in our system to upgrade and decentralize the platform. The virtual coin that we use to reward the community will become a real utility token and the validation system will become autonomous. Transactions towards users will be registered on the blockchain and client companies will be able to track their marketing spending, in a transparent, trustworthy and safe system.
Friendz Coins are ERC20 utility tokens based on the Ethereum blockchain and can be used by clients to purchase our marketing services and by our users to get special features in the app or to buy products in our and our partners’ online stores.
You can watch our video presentation at this link
What are your plans for the future?
After the ICO we will expand our business abroad. Our mission is to be active all around the world, starting from the main European countries for digital advertising spending, and to grow our community to 20 millions users by 2020.
Friendz will become the tool to directly connect brands to their target audience: multinational companies will be able to perform marketing activities involving a community of active and engaged people in different countries.
Users will become the centre of the advertising process and will be able to monetize their participation and influence on social media.
How do people get in touch with you?
We are active in every social media, especially we publish articles about our story and news on Medium (https://medium.com/friendz ). We received good reviews on ICOBench, check it out! (https://icobench.com/ico/friendz ) You can find more information on our website (https://friendz.io/ ).
Simona – ICO Project Manager – [email protected]
Website – https://friendz.io/
Webapp – https://web-app.amazing-friendz.com/