Dive summary:
- Former McCann CEO Nick Brian is among an eclectic group of investors that have contributed $6 million to social-commerce startup Chirpify, which allows users to make in network purchases by commenting on posts.
- The way Chirpify works is the startup sets up a commerce listing; when a user comments on the post, a window opens up asking for their credit card information to make that purchase.
- Chirpify earns its revenue from charging a monthly fee, as well as the 2.9% fee plus 30 cents on transactions for commerce posts.
From the article:
"The company has Adidas and MasterCard -- which recently used it to collect charitable donations for cancer research -- as customers, but it's looking to get more traction among agencies. Its CEO Chris Teso is hopeful that Mr. Brien's connections will help."