PostRocket

Facebook page marketing platform
Startup Cemetery
GENERAL INFORMATION
Category:
Analytics
Country:
United States
Started:
2010
BUSINESS FAILURE
Outcome:
Shut Down
Cause:
Poor Product
Closed:
2013
FOUNDERS & EMPLOYEES
Number of Founders:
2
Name of Founders:
Murry Ivanoff, Tim Chae
Number of Employees:
1-10
FUNDING
Number of Funding Rounds:
2
Total Funding Amount:
$610K
Number of Investors:
7

What was PostRocket?

PostRocket was a Facebook marketing platform, co-founded in October 2010. The company products and services were concentrated on marketers that needed a higher quality and more wide-ranging engagement on their Facebook pages so as to increase their sales. PostRocket had the goal of creating awareness by posting more engaging and friendly posts through the use of an algorithm that sorted out what the most effective posts for targeted users were. PostRocket helped FB page owners get custom content recommendations tailored to their specific customer base. Page owners could get Insights from their own panel which would help them optimize their post for type, frequency, content, and timing.

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Why did PostRocket fail and shut down?

After three years of operations, Post Rocket closed down in August 2013. The CEO of the company, Timothy Chae, reported to its customers through an email some of the main reasons for the closure.

First, Chae admitted that the company had set for itself unrealistic goals, which were hard to strategize and they achieve most of them. Their product was unreliable and they were not able to quickly expand also due to how the landscape of Facebook marketing changed. Many technical issues like bugs and periods of downtime affected the quality of their service and they were not able to get rid of them since they also had to keep up with the frequent changes on the FB platform.

Most importantly, FB itself rolled out in that period its own Insights service which any Page owner could use for free to learn about their audience, receive detailed statistics and receive optimization suggestions. Chae actually encouraged his customers to use FB Insights in his shutdown announcement email.

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