It’s called Chalkboard because the idea is similar to placing a hand-written outside a storefront with the the daily deal or latest offer — local businesses can send unlimited real-time updates and offers to consumers within a mile radius of their physical locations.
Launched just a year ago to serve the Malaysia and Singapore markets, hyper-local mobile and online ad network Chalkboard is launching in the United States. Through partnerships with third-party mobile applications and web publishers, Chalkboard has helped about 4,400 businesses reach out to 4.8 million potential consumers at a cost of less than a dollar a day. In addition, the Chalkboard stream feeds updates into its small business advertisers’ social media accounts.
“We are ready to scale rapidly in the U.S. market,” said Saumil Nanavati, CEO and co-founder of Chalkboard. “Our product has already seen incredible traction and usage because it’s instant and easy to use. We see businesses updating messages up to 11 times a month. We offer a simple marketing solution for daily use and this resonates well with small businesses.”
Currently rounding up Series A funding, Chalkboard’s existing investors include Joi Ito’s Neoteny Labs; Ito, director of MIT Media Labs, is a board member.
After years of ping-ponging around various industry publications, Gavin Dunaway finagled his way into the senior editor slot at Adotas, a depot for interactive advertising news and commentary. When not penning snarky articles about social media and behavioral targeting, the Washington, D.C. native and George Mason University graduate enjoys playing electric guitar so loud that the walls shake.
This piece originally appeared at Adotas July 20, 2011. It has been reprinted with permission.