Social media firm Moontoast has announced the purchase of Spendship, a revolutionary mobile-driven affiliate and loyalty platform, which helps socially connected companies turn their fans into promoters.
Founded by Jason Weaver in December 2013, Spendship has taken little time in attracting a rich bank of customers, allowing them to turn their followers on social networks into a fully fledged sales force.
The platform facilitates a direct connection between company and customer, enticing fans to promote products owned by the same businesses they follow on sites like Facebook and Twitter. In return, advertisers are rewarded with redeemable ‘points’.
All of the advertising is conducted via social networks, with Spendship paying particular focus to dealings via mobile device.
Moontoast specialises in what it calls social-rich media advertising, enabling brands like Nissan, VEVO and AMD to construct adverts for use across multiple social networks. However, the company has acknowledged the struggles that companies must go through to effectively interact with their customers on these sites.
Speaking in light of the news, Moontoast CEO Blair Heavey said the deal should go some way to satisfying the needs of its clients.
“Spendship has a powerful and refreshing take on affiliate and loyalty marketing,” commented Heavey.
“We believe Spendship will give our clients and prospects a combined engagement and retention platform that fulfills an obvious and overlooked market need.”
The deal sees Weaver appointed as chief product officer at Moontoast, a role which will require him to oversee all aspects of the company’s future product innovation.