Lookery failure

Lookery

Demographic marketing services in social networks

Description

Lookery gave statistic showcasing services that empowered organizations. These services were for companies that had vast inventory stocks but close to no client profiling. Lookery services made it so that websites could offer customers’ visitors highly relevant products for them based on the demographic data that it collected.

Stats

Category
Marketing
Country
United States
Started
In 2007
Closed
By 2009
Number of Founders
Three
Name of Founders
David Cancel, Rex Dixon, Todd Sawicki
Number of Employees
Between 1 And 10
Number of Funding Rounds
2
Total Funding Amount
$3.2M
Number of Investors
22
Precise Cause of Failure
Dependence on Others
Business Outcome
Acquired

Cause of Failure

Lookery fundamental vulnerability was that it was based on Facebook as admitted by the founders themselves. When Facebook made effective its platform redesign in 2008, Lookery realized they would not be able to effectively help their customers anymore. Instead of searching for an exit solution they tried to solve and rethink their strategy for a period but to no avail. The finally managed to secure a deal with ad serving company Adknowledge within the same year and Lookery was thus acquired.

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