Empire Avenue is a stock market website for social influence. The company has raised $1.2 million in Series A funding. This round of funding was led by Crosslink Capital. iNovia Capital, TriplePoint Capital, and BioWare co-founders Drs. Ray Muzyka and Greg Zeschuk also participated in this round.
Empire Avenue plans on using this round of funding to ramp up hiring and expand their platform to focus on growing their virtual goods and currency sales. Launched in 2010, Empire Avenue is a social stock market where users take the role of a company and their product values are determined by the level of online activities. The company wants brands to enhance their social media participation.
Empire Avenue is plugged into websites such as Facebook, Twitter, Flickr, and YouTube. Brands can turn contributions into actual revenue by by utilizing an ad platform used by Empire Avenue to deliver targeted ads