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{{Short description|Interactive entertainment company}}
{{Infobox dot-com company
{{Update|date=February 2023}}
| name = FameBit
{{Infobox website
⚫
| logo =
| logo = BrandConnectLogo.svg
|logo alt =
| logo_size =
⚫
| founder = Agnes Kozera, and David Kierzkowski<ref name=famebit24>{{cite web|url=https://angel.co/famebit|title=FameBit AngelList Profile|website=angel.co}}</ref>
| logo_caption = Current logo as a subsidiary of YouTube
| revenue = 36 million<ref name="famebit13" />
⚫
| logo alt =
⚫
| company_type = [[Privately held company|Private]]<ref name="famebit24" />
⚫
| founder = Agnes Kozera, and David Kierzkowski<ref name="angel.co">{{cite web|url=https://angel.co/famebit|title=FameBit AngelList Profile|website=angel.co}}</ref>
⚫
| num_employees = 11-50<ref name="famebit24" />
⚫
| company_type = [[Privately held company|Private]]<ref name="angel.co" />
⚫
| foundation = 2013
⚫
| num_employees = 11-50<ref name="angel.co" />
⚫
| foundation = 2013
| area_served = Worldwide
| area_served = Worldwide
| location_city = Santa Monica, California<ref name="famebit24" />
| location_city = Santa Monica, California<ref name="angel.co" />
| location_country = United States
| location_country = United States
| industry = [[Influencer marketing|Influencer Marketing]]
| industry = [[Influencer marketing]]
| url = {{URL|https://www.famebit.com/}}
| url = {{URL|https://www.famebit.com/}}
}}
}}


'''FameBit''' is an interactive entertainment company founded in 2013 and headquartered in [[Santa Monica|Santa Monica, California]] with an additional office located in [[Brampton|Brampton, Ontario, Canada]].<ref name=famebit1>{{cite web|url=https://www.crunchbase.com/search/principal.investors/field/funding_round.has_funding_round.forward/num_investors/famebit-seed--777d65f4|title=FameBit on CrunchBase|website=crunchbase}}</ref>
'''YouTube BrandConnect''' (formerly '''FameBit''') is an interactive entertainment company founded in 2013 and headquartered in [[Santa Monica|Santa Monica, California]].


The company develops and maintains a popular [[Influencer marketing|Influencer Marketing]] link sharing platform. As of 2016 the company has been a subsidiary of [[Google]], grouped under their [[YouTube]] division.<ref name=famebit2>{{cite web|url=https://techcrunch.com/2016/10/11/google-acquires-famebit-to-connect-youtube-creators-with-brands/ |title=Google Acquires Famebit To Connect YouTube Creators With Brands|website=techcrunch.com}}</ref>
The company develops and maintains an [[Influencer marketing|Influencer Marketing]] link sharing platform. As of 2016 the company has been a subsidiary of [[Google]], grouped under their [[YouTube]] division.<ref>{{cite web|url=https://techcrunch.com/2016/10/11/google-acquires-famebit-to-connect-youtube-creators-with-brands/ |title=Google Acquires Famebit To Connect YouTube Creators With Brands|website=techcrunch.com|date=11 October 2016 }}</ref>


== History ==
== History ==
===Early Beginnings===
⚫
FameBit was formed in 2013 by high school friends Agnes Kozera, and David Kierzkowski. Kierzkowski had previously co-founded the digital marketing platform, [[TapClicks]], but was wishing to create something more interactive.<ref name=famebit3>{{cite web|url=https://www.therecord.com/news-story/7138384-startup-dreams-come-true-as-famebit-engineers-head-to-california |title=Starup Dreams Come True As FameBit Engineers Head To California|website=therecord.com}}</ref> He was approached by Kozera who was the founder of SeasonsBox, a subscription based gift delivery service, who had been able to perform the majority of her companies advertising through the use of social influencers.<ref name=famebit4>{{cite web|url=https://www.itbusiness.ca/news/famebit-turns-any-business-brand-into-a-youtube-star/46250|title=FameBit turns any business brand into a Youtube star.|website=itbusiness.com}}</ref> The two combined their knowledge to develop FameBit, an interactive link sharing platform that allowed companies to post offers for influencers, and for influencers to search and apply.<ref name=famebit25>{{cite web|url=https://www.bloomberg.com/research/stocks/private/person.asp?personId=225671667&privcapId=250780996&previousCapId=250780996&previousTitle=FameBit,%2520Inc.|title=Bloomberg Profile on David Kierzkowski.|website=bloomberg}}</ref><ref name=famebit5>{{cite web|url=http://streamdaily.tv/2016/06/16/agnes-kozera-on-small-budgets-and-big-results/|title=Agnes Kozera on small budgets and big results|website=StreamDaily}}</ref>


===As independent company===
On September 16, 2013 FameBit received its first round of [[seed funding]] from [[venture company|venture companies]] “500 Startups” & “HighlineVC.”<ref name=famebit6>{{cite web|url=https://www.crunchbase.com/search/principal.investors/field/funding_round.has_funding_round.forward/num_investors/famebit-seed--777d65f4|title=Famebit Seed Funding Round|website=crunchbase}}</ref> Following their initial round of funding, Famebit was one of 4 companies invited to the New York Extreme Startups investor convention.<ref name=famebit7>{{cite web|url=http://www.marketwired.com/press-release/extreme-startups-supercharges-founders-development-evolves-into-three-integrated-programs-1836820.htm|title=Extreme Startups Supercharges Founders Development, Evolves Into Three Integrated Programs
|website=marketwired}}</ref>


⚫
FameBit was formed in 2013 by high school friends Agnes Kozera, and David Kierzkowski. Kierzkowski had previously co-founded the [[digital marketing]] platform [[TapClicks]].<ref>{{cite web|url=https://www.therecord.com/news-story/7138384-startup-dreams-come-true-as-famebit-engineers-head-to-california |title=Starup Dreams Come True As FameBit Engineers Head To California|website=therecord.com}}</ref> He was approached by Kozera who was the founder of SeasonsBox, a subscription based gift delivery service, which had used social media influencers for advertising.<ref>{{cite web|url=https://www.itbusiness.ca/news/famebit-turns-any-business-brand-into-a-youtube-star/46250|title=FameBit turns any business brand into a Youtube star.|website=itbusiness.com|date=16 January 2014 }}</ref> The two developed FameBit as a link sharing platform which allowed companies to post offers to influencers.<ref>{{cite web|url=https://www.bloomberg.com/research/stocks/private/person.asp?personId=225671667&privcapId=250780996&previousCapId=250780996&previousTitle=FameBit,%2520Inc.|title=Bloomberg Profile on David Kierzkowski.|website=bloomberg|date=13 June 2023 }}</ref><ref>{{cite web|url=http://streamdaily.tv/2016/06/16/agnes-kozera-on-small-budgets-and-big-results/|title=Agnes Kozera on small budgets and big results|website=StreamDaily}}</ref>
⚫
In February 2014 FameBit was one of two Canadian based companies, out of over 1,000 applicants, accepted into “500 Startups” venture fund.<ref name=famebit8>{{cite web|url=https://betakit.com/2-canadian-teams-make-the-500startups-cut-famebit-and-venuespot/ |title=2 CANADIAN TEAMS MAKE THE 500 STARTUPS CUT: FAMEBIT AND VENUESPOT
|website=betakit}}</ref> In September 2014 FameBit received 1.5million in additional seed funding from [[DeNA]], Third Wave Digital, and Science Ventures.<ref name=famebit9>{{cite web|url=https://www.crunchbase.com/search/principal.investors/field/funding_round.has_funding_round.forward/num_investors/famebit-seed--b30ed9a9|title=Famebit Second Round of Funding
|website=crunchbase}}</ref>


⚫
In February 2014 FameBit was one of two Canadian based companies accepted into 500 Startups venture fund.<ref>{{cite web|url=https://betakit.com/2-canadian-teams-make-the-500startups-cut-famebit-and-venuespot/ |title=2 CANADIAN TEAMS MAKE THE 500 STARTUPS CUT: FAMEBIT AND VENUESPOT
===Growth & Success===
|website=betakit|date=3 February 2014
By 2015 FameBit had signed up over 9,000 YouTubers, and had run over 1600 campaigns for more than 1200 brands. At the time the average subscriber count for a FameBit Influencer was 46,000.<ref name=famebit10>{{cite web|url=https://techcrunch.com/2015/04/17/ad-startup-famebits-long-tail-of-creators-grows-to-more-than-9k-youtubers/|title=FameBit's Long Tail Of Creators Grow To More Than 9k YouTubers|website=techcrunch.com}}</ref>
}}</ref>


By the end of the 2015 that number had risen to 21,000 across 6 social media platforms ([[Vine (service)|Vine]], [[Twitter]], [[Facebook]], [[Tumblr]], [[Instagram]], & [[YouTube]])<ref name=famebit11>{{cite web|url=http://streamdaily.tv/2015/12/08/famebit-banks-on-the-little-guy/ |title=FameBit Banks On The Little Guy |website=streamdaily.com}}</ref>
By 2015 FameBit had signed up about 9,000 YouTubers, and had run about 1,600 campaigns for about 1200 brands. At the time the average subscriber count for a FameBit Influencer was 46,000.<ref>{{cite web|url=https://techcrunch.com/2015/04/17/ad-startup-famebits-long-tail-of-creators-grows-to-more-than-9k-youtubers/|title=FameBit's Long Tail Of Creators Grow To More Than 9k YouTubers|website=techcrunch.com|date=17 April 2015 }}</ref>


By 2016 FameBit had helped in the creation of over 25,000 branded videos, with and estimated 2 billion minutes of viewing time.<ref name=famebit12>{{cite web|url=https://variety.com/2016/digital/news/google-acquires-famebit-youtube-1201885529/ |title=Google Acquires FameBit |website=variety.com}}</ref>
By the end of the 2015 that number had risen to 21,000 across 6 social media platforms ([[Vine (service)|Vine]], [[Twitter]], [[Facebook]], [[Tumblr]], [[Instagram]], & [[YouTube]])<ref>{{cite web|url=http://streamdaily.tv/2015/12/08/famebit-banks-on-the-little-guy/ |title=FameBit Banks On The Little Guy |website=streamdaily.com}}</ref>


By 2016, FameBit had been used in the creation of about 25,000 branded videos, with and estimated 2 billion minutes of viewing time.<ref>{{cite web|url=https://variety.com/2016/digital/news/google-acquires-famebit-youtube-1201885529/ |title=Google Acquires FameBit |website=variety.com|date=11 October 2016 }}</ref>
⚫
===Acquisition by YouTube===
On October 11, 2016, Google acquires Famebit, for initially an undisclosed amount, but was later revealed to be 36 million dollars. At the time of purchase it was stated that FameBit had over 50,000 creators registered on the platform. Google planned to merge the platform within their YouTube division.<ref name=famebit13>{{cite web|url=https://www.theverge.com/2016/10/11/13246710/youtube-famebit-branded-content-product-promotion|title=YouTube FameBit Branded Content Product Promotion|website=theverge.com}}</ref>
<ref name=famebit14>{{cite web|url=https://www.therecord.com/news-story/7138384-startup-dreams-come-true-as-famebit-engineers-head-to-california/|title=Startup Dreams Come True As Famebit Engineers Head To California. |website=therecord.com}}</ref>
<ref name=famebit15>{{cite web|url=https://www.forbes.com/sites/hughmcintyre/2016/10/27/youtubes-purchase-of-famebit-could-mean-big-bucks-for-musicians/#71d66a57638a|title=YouTube Purchase Of FameBit Could Be Big For Musicians |website=forbes.com}}</ref><ref name=famebit16>{{cite web|url=http://adage.com/article/digital/publishers-acquiring-marketing-agencies-surged-2016/307498/ |title=Publishers Acquiring Marketing Agencies Surge |website=adage.com}}</ref>


⚫
===Acquisition by Google===
⚫
Since being acquired by Google, FameBit has mostly operated without change. The only major visual change made to FameBit's product was an implementation that allows marketers to retarget videos made on FameBit to viewers via Google's Ads.<ref name=famebit17>{{cite web|url=https://marketingland.com/youtubes-famebit-new-sales-boss-expanded-platform-post-acquisition-226991|title=YouTube's FameBit New Sales Boss Expanded Platform Post|website=marketingland.com}}</ref>
On October 11, 2016, [[Google]] acquired Famebit, for what was later disclosed to be $USD 36 million. At the time of purchase, FameBit claimed 50,000 registered users. Google planned to merge the platform within their YouTube division.<ref name="the verge">{{cite web|url=https://www.theverge.com/2016/10/11/13246710/youtube-famebit-branded-content-product-promotion|title=YouTube FameBit Branded Content Product Promotion|website=theverge.com|date=11 October 2016 }}</ref><ref>{{cite web|url=https://www.therecord.com/news-story/7138384-startup-dreams-come-true-as-famebit-engineers-head-to-california/|title=Startup Dreams Come True As Famebit Engineers Head To California. |website=therecord.com|date=14 February 2017 }}</ref><ref>{{cite web|url=http://adage.com/article/digital/publishers-acquiring-marketing-agencies-surged-2016/307498/ |title=Publishers Acquiring Marketing Agencies Surge |website=adage.com|date=17 January 2017 }}</ref>
In January 2018 YouTube announced it was going to demonetize smaller YouTube channels, however, smaller channels will continue to be able to monetize off of the FameBit platform.<ref name=famebit18>{{cite web|url=https://www.forbes.com/sites/erikkain/2018/01/18/youtube-is-demonetizing-small-channels-and-why-thats-a-good-thing/#ac18acf53d8e |title=YouTube Is Demonetizing Channels and Why Thats A Good Thing|website=forbes.com}}</ref>


⚫
Since being acquired by Google, FameBit has allowed marketers to retarget videos made on FameBit to viewers via Google's Ads.<ref>{{cite web|url=https://marketingland.com/youtubes-famebit-new-sales-boss-expanded-platform-post-acquisition-226991|title=YouTube's FameBit New Sales Boss Expanded Platform Post|website=marketingland.com|date=25 October 2017 }}</ref>
⚫
==Business Model==
Unlike other influencer platforms, FameBit is not subscription based, instead it is free to sign-up, and the company receives 10% of the transaction fees between Influencer & Brands.<ref name=famebit26>{{cite web|url=https://influencermarketinghub.com/famebit/ |title=FameBit Overview |website=influencermarketinghub.com}}</ref>


In 2020, FameBit shut down its self-service program which allowed creators to independently find brands to work with.<ref>{{Cite web|date=2020-05-13|title=YouTube's FameBit Shutters Self-Service Influencer Marketing Platform To Prioritize In-House Matchmaking|url=https://www.tubefilter.com/2020/05/13/youtube-famebit-shutters-self-service-platform/|access-date=2021-05-20|website=Tubefilter|language=en-US}}</ref>
⚫
FameBit's basic business plan allows brands to post products, and have YouTube content creators to produce content advertising those products for a negotiable fee. FameBit refers to this business strategy as “The Bounty Model”<ref name=famebit20>{{cite web|url=https://techcrunch.com/2014/06/23/youtubes-marketing-and-content-platform-nets-startups-millions/|title=YouTube's Marketing And Content Platform Nets Startups Millions|website=techcrunch}}</ref>


On June 16, 2020, the company rebranded as YouTube BrandConnect.<ref>{{Cite web|title=YouTube's FameBit rebrands as YouTube BrandConnect, shuts down its self-service program|url=https://finance.yahoo.com/news/youtubes-famebit-rebrands-youtube-brandconnect-170037936.html|access-date=2021-05-20|website=finance.yahoo.com|date=16 June 2020 |language=en-US}}</ref>
==Product==

FameBit offers an online marketing platform that allows brands to post offers to advertise their products on specific social media platforms. Content creators can log into the platform, browse offers, and then negotiate their prices. The platform is free to sign-up, w/ FameBit taking a percentage of the transaction fee between brand and influencer.<ref name="famebit18" />
⚫
==Business Model==
⚫
FameBit acts as a platform for companies to post requests for social media content creators to advertise products and services, for a negotiable fee.<ref>{{cite web|url=https://techcrunch.com/2014/06/23/youtubes-marketing-and-content-platform-nets-startups-millions/|title=YouTube's Marketing And Content Platform Nets Startups Millions|website=techcrunch|date=23 June 2014 }}</ref> FameBit receives 10% of this fee.<ref>{{cite web|url=https://influencermarketinghub.com/famebit/ |title=FameBit Overview |website=influencermarketinghub.com|date=28 February 2017 }}</ref>


== Controversy ==
== Controversy ==
FameBit has been criticized by brands for allowing YouTubers to join without verifying their followers. FameBit has also been criticized by Content Creators for banning them from the platform due to brand disputes.<ref name=famebit22>{{cite web|url=https://www.linkedin.com/pulse/famebit-seedy-underbelly-influencer-marketing-tale-brands-seidman/|title=Famebit Seedy Underbelly Influencer Marketing Tale|website=linkedin.com}}</ref>
FameBit has been criticized by brands for allowing YouTubers to join without verifying their followers. FameBit has also been criticized by Content Creators for banning them from the platform due to brand disputes.<ref>{{cite web|url=https://www.linkedin.com/pulse/famebit-seedy-underbelly-influencer-marketing-tale-brands-seidman/|title=Famebit Seedy Underbelly Influencer Marketing Tale|website=linkedin.com}}</ref>


Several employees have claimed that FameBit promotes a toxic work environment, with 3 out of 4 of their glass door reviews awarding the company 1 star.<ref name=famebit23>{{cite web|url=https://www.glassdoor.com/Reviews/Employee-Review-FameBit-RVW11285684.htm |title=FameBit Glassdoor Profile|website=glassdoor.com}}</ref>
Several employees have claimed that FameBit promotes a toxic work environment, with 3 out of 4 of their [[Glassdoor]] reviews awarding the company 1 star.<ref>{{cite web|url=https://www.glassdoor.com/Reviews/Employee-Review-FameBit-RVW11285684.htm |title=FameBit Glassdoor Profile|website=glassdoor.com}}</ref>

== See also ==
* [[TapInfluence]]


== References ==
== References ==
Line 66: Line 59:
== External links ==
== External links ==
* {{Official website|https://www.famebit.com/}}
* {{Official website|https://www.famebit.com/}}

{{Google LLC}}
{{YouTube navbox}}


[[Category:2013 establishments in California]]
[[Category:2013 establishments in California]]

Latest revision as of 10:00, 9 April 2024

YouTube BrandConnect
Current logo as a subsidiary of YouTube
Type of businessPrivate[1]
Founded2013
Headquarters
Santa Monica, California[1]
,
United States
Area servedWorldwide
Founder(s)Agnes Kozera, and David Kierzkowski[1]
IndustryInfluencer marketing
Employees11-50[1]
URLwww.famebit.com

YouTube BrandConnect (formerly FameBit) is an interactive entertainment company founded in 2013 and headquartered in Santa Monica, California.

The company develops and maintains an Influencer Marketing link sharing platform. As of 2016 the company has been a subsidiary of Google, grouped under their YouTube division.[2]

History[edit]

As independent company[edit]

FameBit was formed in 2013 by high school friends Agnes Kozera, and David Kierzkowski. Kierzkowski had previously co-founded the digital marketing platform TapClicks.[3] He was approached by Kozera who was the founder of SeasonsBox, a subscription based gift delivery service, which had used social media influencers for advertising.[4] The two developed FameBit as a link sharing platform which allowed companies to post offers to influencers.[5][6]

In February 2014 FameBit was one of two Canadian based companies accepted into 500 Startups venture fund.[7]

By 2015 FameBit had signed up about 9,000 YouTubers, and had run about 1,600 campaigns for about 1200 brands. At the time the average subscriber count for a FameBit Influencer was 46,000.[8]

By the end of the 2015 that number had risen to 21,000 across 6 social media platforms (Vine, Twitter, Facebook, Tumblr, Instagram, & YouTube)[9]

By 2016, FameBit had been used in the creation of about 25,000 branded videos, with and estimated 2 billion minutes of viewing time.[10]

Acquisition by Google[edit]

On October 11, 2016, Google acquired Famebit, for what was later disclosed to be $USD 36 million. At the time of purchase, FameBit claimed 50,000 registered users. Google planned to merge the platform within their YouTube division.[11][12][13]

Since being acquired by Google, FameBit has allowed marketers to retarget videos made on FameBit to viewers via Google's Ads.[14]

In 2020, FameBit shut down its self-service program which allowed creators to independently find brands to work with.[15]

On June 16, 2020, the company rebranded as YouTube BrandConnect.[16]

Business Model[edit]

FameBit acts as a platform for companies to post requests for social media content creators to advertise products and services, for a negotiable fee.[17] FameBit receives 10% of this fee.[18]

Controversy[edit]

FameBit has been criticized by brands for allowing YouTubers to join without verifying their followers. FameBit has also been criticized by Content Creators for banning them from the platform due to brand disputes.[19]

Several employees have claimed that FameBit promotes a toxic work environment, with 3 out of 4 of their Glassdoor reviews awarding the company 1 star.[20]

References[edit]

  1. ^ a b c d "FameBit AngelList Profile". angel.co.
  2. ^ "Google Acquires Famebit To Connect YouTube Creators With Brands". techcrunch.com. 11 October 2016.
  3. ^ "Starup Dreams Come True As FameBit Engineers Head To California". therecord.com.
  4. ^ "FameBit turns any business brand into a Youtube star". itbusiness.com. 16 January 2014.
  5. ^ "Bloomberg Profile on David Kierzkowski". bloomberg. 13 June 2023.
  6. ^ "Agnes Kozera on small budgets and big results". StreamDaily.
  7. ^ "2 CANADIAN TEAMS MAKE THE 500 STARTUPS CUT: FAMEBIT AND VENUESPOT". betakit. 3 February 2014.
  8. ^ "FameBit's Long Tail Of Creators Grow To More Than 9k YouTubers". techcrunch.com. 17 April 2015.
  9. ^ "FameBit Banks On The Little Guy". streamdaily.com.
  10. ^ "Google Acquires FameBit". variety.com. 11 October 2016.
  11. ^ "YouTube FameBit Branded Content Product Promotion". theverge.com. 11 October 2016.
  12. ^ "Startup Dreams Come True As Famebit Engineers Head To California". therecord.com. 14 February 2017.
  13. ^ "Publishers Acquiring Marketing Agencies Surge". adage.com. 17 January 2017.
  14. ^ "YouTube's FameBit New Sales Boss Expanded Platform Post". marketingland.com. 25 October 2017.
  15. ^ "YouTube's FameBit Shutters Self-Service Influencer Marketing Platform To Prioritize In-House Matchmaking". Tubefilter. 2020-05-13. Retrieved 2021-05-20.
  16. ^ "YouTube's FameBit rebrands as YouTube BrandConnect, shuts down its self-service program". finance.yahoo.com. 16 June 2020. Retrieved 2021-05-20.
  17. ^ "YouTube's Marketing And Content Platform Nets Startups Millions". techcrunch. 23 June 2014.
  18. ^ "FameBit Overview". influencermarketinghub.com. 28 February 2017.
  19. ^ "Famebit Seedy Underbelly Influencer Marketing Tale". linkedin.com.
  20. ^ "FameBit Glassdoor Profile". glassdoor.com.

External links[edit]

Retrieved from "https://en.wikipedia.org/w/index.php?title=YouTube_BrandConnect&oldid=1218034801"