Tuesday, June 25, 2013
Tongal Hits $1M In Rewards Pool For User Generated Video
Los Angeles-based Tongal, which operates a crowdsourced site for creating commercials, reported today that it has hit $1 million in current projects in its reward pool. The company--whose crowdsourced videos are widely viewed online and on television commercials, including the Super Bowl--said the projects include campaigns for six Procter & Gamble brands (Gillette, Iams, Oral B, Secret, Era and Gain), LEGO, Ford, L'Oreal, Verizon, plus a project beteen Pringles and Star Wars.
Tongal's online site lets users contribute to develop creative ideas for different advertising projects, starting with the idea itself, to a storyboard, and eventually a full blown commercial video. The site said that so far, its users have earned $4M working on its various creative projects, with many earning more than $100,000 for their work on the site. The firm recently raised $15M in a private equity funding from Insight Venture Partners.