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Commerce On Facebook – Finally!

03/22/2011

Minneapolis based 8thBridge launched the first eCommerce store on Facebook in July 2009 for 1-800-Flowers.com. 8thBridge monetizes social media for big brand clients such as Delta Airlines, Lands’ End, Brooks Brothers and Hallmark.

It must be working quite well. On March 21, 2011 – announced it has secured $10 million in a series B funding round led by venture firm Trident Capital. This is on top of the $5 million raised by Split Rock Partners in January 2010.

“We sought out this new round of funding based upon an accelerated demand from merchants seeking e-commerce solutions that are built for the social graph,” said Wade Gerten, CEO and Founder of 8thBridge. “8thBridge became the pioneer in this new era of social commerce. This new round of funding will allow us to extend our lead in rebuilding e-commerce from the ground up around people instead of pages.”

Key to 8thBridge growth is acquiring new customers. Fortunately they’ve nailed to speed to launch. 8thBridge is able to launch online stores in eight weeks instead of several months. 8thBridge generates revenue from a one-time enablement fee that covers the cost of integration and set up. It also collects monthly subscription fees.

This company is right in the sweet spot for every merchant brand in the world. I believe they are in for quite a ride.

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