Social Media Data Analytics Company Gnip Raises $2 Million

Posted Nov 21, 2010

Gnip is a social media monitoring company that offers analytics about how readers are responding to your brand on Twitter, Facebook, Google Buzz, etc. Gnip gained some extra attention because they became the first company authorized to sell Twitter data.

As a result of the popularity of their services, the company has raised a $2 million round of funding. This round was led by previous investor Foundry Group. First Round Capital also participated in this round. This brings their total funding to $6.6 million.

Gnip is not intended for the typical individual Twitter user. It appears to be made more for medium to large-sized companies. This is because monitoring of the Halfhose (50% of tweets) costs $30,000 per month, Decahose (10% of tweets) costs $5,000 per month, and the Mentionhose (@replies and retweets) costs $20,000 per month.

In September 2009, Gnip had fired 7 out of their 12 person team. And then Eric Marcoullier, the former CEO of the company, left in May. Gnip founder Jud Valeski was left in charge to bring the company back to speed.

Marcoullier left had previously founded IGN and MyBlogLog. Now he is working on a new startup called OneTrueFan. Check out the video demo below to learn more about Gnip.