Vivoom, a Boston-based mobile ad platform focused on user-generated ad campaigns, closed its operations on Wednesday, a victim of the pandemic economy.
The company’s website is no longer live.
Vivoom CEO and cofounder Katherine Hays relayed news of the shutdown in an email sent to clients and partners yesterday.
“Despite our amazing partners, peers, advisors and the incredible execution and unwavering vision of our team,” Hays wrote, “our business over the past few months has, like so many, been significantly negatively impacted by COVID-19.”
The Vivoom technology repackaged user-generated video content into branded content for advertisers to use in support of paid campaigns. Crayola for example tested Vivoom as part of its 2017 holiday campaign by encouraging consumers to create Crayola-themed holiday cards and share them across social channels.
But advertisers have been tightening their belts and shearing their branding budgets since March.
Vivoom, which described itself as a SaaS platform that helped to mobilize customers into brand ambassadors through UGC, was perhaps not performance-driven enough to make the cut at a time when advertisers are focused more deeply on efficiency and quantifiable outcomes.
The company was founded in 2012 and raised $7.3 million between 2014 and 2015. In addition to Crayola, past clients included New Balance, Capital One, L’Oréal, Johnson & Johnson, The Clorox Company, Microsoft, Dr. Pepper, Univision, Maroon 5 and the Boston Celtics.
Hays did not respond to a request for comment.
The following is her email in full.
Subject: Vivoom’s last day // Our thanks to you
Dear Friends of Vivoom,
I wanted to take a moment to thank each of you. Thank you for being a partner using our technical solution, or one of our CMO podcast Authentic Influence guests sharing how you authentically connect with customers, or perhaps an advisory board member or simply a believer in the mission to help companies deliver their brand through the people that matter most – their customers.
We too are true believers in the power of turning customers into partners and authenticity mobilizing the masses. It’s amazing what happens when you do.
It is therefore with a very heavy heart that I write this email to let you know that Vivoom will close its operations as of today, Wednesday, August 12. Despite our amazing partners, peers, advisors and the incredible execution and unwavering vision of our team, our business over the past few months has, like so many, been significantly negatively impacted by Covid-19.
During this journey we have spoken with over 100 Fortune 500 CMOs or fast-growing DTC founders specifically on the topic of authenticity and customers as partners and seen results and data across a wide variety of industries and verticals.
If insights and knowledge gained along the way may ever be helpful to you, please do not hesitate to be in touch. You can reach me anytime on LinkedIn or [email address redacted by AdExchanger].
In the meantime, take good care.
Sincerely,
Katherine
Katherine Hays
CEO, Co-Founder
Vivoom, Inc.
