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DC-based Pinbooster, the leading marketing platform for Pinterest, has announced today that it will be relaunching as loop88. Loop88′s launch is accompanied by $500,000 in seed funding led by New Dominion Angels and the Center for Innovative Technology (CIT).
Founded a mere two years ago, Pinbooster/loop88 helps companies like Whole Foods, Home Depot, Ghirardelli, Verizon, and Yoplait connect with influential Pinterest users who then collaborate with marketing campaigns to help reach millions of people on the social media platform. Loop88 identifies the top influencers on Pinterest and sorts them by different categories and interests, allowing brands to engage in highly-targeted advertising campaigns.
The re-launch as loop88 is motivated largely by the company’s desire to grow with the user base and with this long-tail of influence. Since launching Pinbooster, the company’s user base has grown to nearly 10,000 people with a combined reach extending across Pinterest’s whole ecosystem. Similarly, Pinterest itself has seen rapid growth since its launch in 2010, now with over 70 million users – all of whom contribute to more than 40 percent of all e-commerce sharing. With all this growth, the company has transformed over time into more of a multichannel network with a creative agency on the side.