Social marketing ad network MyLikes has just raised a 630,000 seed round, according to TechCrunch. The round comes from 11 ex-Google employees, including a former AdSense tech lead.
The platform, formerly known as Likaholix, aims to connect the long tail of influencers on the web to endorse products and services they like. Advertisers sponsor tweets or blog mentions on a pay-per-post basis. Since it’s launch in January, MyLikes has signed up 20,000 influencers into its network.
Called ‘The Holy Grail of Social Media Monetization,’ MyLikes will be competing with the likes of Twitter’s new ad platform and others. CEO Bindu Reddy claims that the MyLikes network’s pay-per-click rates are two to three times less expensive on average than AdSense in the U.S.
Given the strong team backing, we’ll be watching MyLikes’ promising future.