Category:

Uncategorized

SAN DIEGO, CA (March 8, 2017) – Wrapify, the technology-based car wrap company, has secured a $3 million venture capital investment from Avery Dennison Corporation (NYSE: AVY), a Fortune 500 company with leading global positions in graphics solutions, labeling and packaging material and radio frequency identification (RFID).

The investment in Wrapify is expected to accelerate its footprint in leading cities around the U.S. Wrapify pays drivers to wrap their cars in ads while using the Wrapify app to enable brand owners to track their vehicles in real-time.

Wrapify CEO James Heller, recently named the top young marketing talent on Forbes’ prestigious “30 Under 30” list, said, “Our goal for Wrapify is to reach the top 50 US cities by end of year, and Avery Dennison’s investment will spur that. It also helps Wrapify expand our already formidable sales force, and broaden our technology and operations teams.”

Wrapify’s platform has been embraced by many of the nation’s best-known brands, including Bud Light, eBay, Lyft and Petco.

“There’s never been anything like Wrapify in the advertising marketplace,” says James Moorhead, CMO of pay-per-mile car insurance company Metromile. “They are revolutionizing the outdoor advertising industry, and we’re proud to be an early adopter of this exciting platform.”

The investment comes as Avery Dennison and Wrapify have been working together to develop a vehicle-wrapping film technology best-suited for Wrapify’s needs: a short-term, easy to install and remove film for the transit oriented out-of-home advertising industry.

“I’ve been continuously impressed by Avery Dennison’s dedication to excellence and drive to deliver what’s best for their customers,” said Heller. “I am confident they are the right partner to help spur Wrapify’s next phase of growth.”

“Avery Dennison prides itself on identifying the most exciting and innovative new ideas and businesses in our category, and Wrapify is a standout,” said Bill Podojil, Senior Business Director, Avery Dennison Graphics Solutions North America.  “We’re impressed by its concept, its product, its team, and its significant success in less than two years. We see this as a great opportunity to extend our leadership in car wrapping.”
About Wrapify
Wrapify is the “advertising leader in the gig economy.” It pays American drivers to wrap their cars in marketing messaging while using its proprietary technology to track their vehicles in real time for brands including Bud Light, eBay and Petco. Named one of Inc. magazine’s hottest startups of 2015, San Diego-based Wrapify is currently in 29 US markets with more than 40,000 registered drivers.

About Avery Dennison

Avery Dennison (NYSE: AVY) is a global leader in pressure-sensitive and functional materials and labeling solutions for the retail apparel market. The company’s applications and technologies are an integral part of products used in every major industry. With operations in more than 50 countries and more than 25,000 employees worldwide, Avery Dennison serves customers in the consumer packaging, graphical display, logistics, apparel, industrial and healthcare industries. Headquartered in Glendale, California, the company reported sales of $6.1 billion in 2016. Learn more at www.averydennison.com

0 comment
0 FacebookTwitterLinkedinEmail

Things are not going the way experts and pundits predicted for the sharing economy. While much of the focus has fallen on Uber in recent weeks, the problems facing business model are numerous, inherent and will likely only continue to grow in the public eye.

Whether we’re calling it collaborative consumerism or the gig-economy, it doesn’t matter. All indicators suggest consumer indifference and the core laws of capitalism are smothering the sharing economy, if not in the crib, then before it reaches school age.

Here’s a quick quiz: How many of these once hot and sexy examples of the sharing economy (and its subsidiary, peer-to-peer services), all of which got significant financing and media attention, are still around?

  • SnapGoods — Rent/Borrow gear from local network
  • HomeJoy — House cleaning on call
  • SpoonRocket – Pre-made meal delivery service
  • HomeHero — “Uber for caretakers”
  • Quirky — Find a cool invention
  • Beepi — Car buying/delivery service
  • Cherry — On demand car washes
  • Washio — On-demand laundry and dry cleaning
  • Rewinery — Wine delivery upon demand

It’s a trick question. None of them. All of the above sharing economy and app-enabled services have gone the way of the dodo.

Some of the companies had legislative problems. Some had management hangups. Some were serving a market that didn’t exist. All of them had challenges with the trickiest portion of the sharing economy of all: The human element.

Take Cherry, HomeJoy or HomeHero, for example(s)–all three relied on having someone at your beck and call whose primary job probably was not through that on-demand application, and, even if it was, wasn’t a paid employee with any formal obligation.

That meant the sharing economy didn’t necessarily mean the service somebody uses shares (so to speak) the same sense of urgency as the person needing said service. If I call Uber and the driver can’t make it, it’s probably not life or death and I can call another driver or ride sharing company.

But if I’m a working person who needs a caretaker for my kids or disabled parent, and the on-demand caretaker can’t be found or can’t be bothered, well, I’m in serious trouble. Even for a meal, if I’m hungry and didn’t cook but the delivery app isn’t ready when I am, it’s a grumbling night.

Even the elites of the sharing economy like Uber and AirBnB are seeing stresses upon their business. Uber particularly has been compelled by competitive market forces from Lyft and others to drive down the price of rides at the expense of drivers’ satisfaction.

And when drivers’ or not-exactly-employees’ primary or lone form of income is through the sharing economy, get disgruntled, you start to see the churn.

This is why Wrapify will be the exception that proves the rule. The one key differentiator that sets Wrapify apart from every other sharing economy company listed–yes, even Uber–is that our drivers don’t need to do anything outside their ordinary daily activity to deliver our service.

Wrapify drivers are driving anyway–commuting to work, taking the kids to baseball or soccer practice, running errands. There is literally no extra effort required once the car is wrapped.

Wrapify isn’t paying anybody to do anything extra; our drivers are getting paid extra for what they’d be doing anyway. And that makes all the difference.

It’s worth noting that Wrapify’s not the only company that’s recognized this. The smarter would-be casualties of the floundering gig economy are also pivoting.

Another example is Drizzly, which started as a courier service but is now piggybacking on liquor stores that deliver through employed drivers to do dual duty. I suspect others will follow this model.

We’re not going to deny that there are continuous challenges in the sharing economy, simply because managing freelance talent is more difficult than herding cats.

But there are good reasons Wrapify already has more than 42,000 drivers on our platform at a time when getting people to download a new app is harder than ever, and that we’ve gone from three markets to thirty(ish) in less than two years.

That reason is organic crossover opportunity. Other than a day a driver gets his or her car wrapped, there is nothing extraneous about the responsibilities of a Wrapify driver’s duty. And that’s going to make all the difference when many other wannabes in the sharing economy have all driven into the sunset.

0 comment
0 FacebookTwitterLinkedinEmail

I recently received an automated email from Google about Adwords’ campaign performance for a few PPC campaigns the company is currently running. Wrapify was seeing an average CPM of $7.01.

A few minutes later, I received one of our automated Wrapify campaign reports and the CPM prompted a historical look at every campaign that’s run since Wrapify launched in 2015.

The average CPM for a Wrapify campaign is $1.78.

Quick “What is Wrapify”: Wrapify provides marketers with the ability to advertise on cars nationwide. Wrapify is also the only OOH ad platform that shows clients impression data in real-time, and that can be accessed in an easy-to-use online dashboard.

So how does Wrapify stack up against the nearly limitless forms of advertising available?

Source: Peter J. Solomon Company Estimates as of July 2014 based on SEC filings, news, research and other industry sources.

How Does Wrapify Calculate Impressions?

At a high level, Wrapify logs drivers’ location data and pairs it with live anonymized traffic, cell and GPS user data, to create accurate impressions count accessible in real-time! This is also patent pending.

CPM Showcase: Bud Light

AB inBev ran a recent campaign in Los Angeles, showcasing the return of the L.A. Rams. Their campaign achieved some of the lowest CPMs yet seen on the Wrapify platform:

Dashboard Snapshots

Daily routes:

Heat maps for all dates or any date range:

Wrapify CPM Conclusion:

Wrapify delivers high-value, low-cost OOH CPMs that customarily deliver sub $2.00 CPMs in the 29 markets the platform currently serves.

Brand advertisers have gravitated toward Wrapify because targeted OOH impressions and industry low CPMs are consistently delivered. Wrapify is increasingly understood as the logical bridge between OOH and digital, because of the online availability of the platform and the physicality of these rolling ads in the REAL world.

As Wrapify continues to roll out new campaigns, we are dedicated to providing the ad industry with better data, detailed case studies and new features.

If you have any questions about Wrapify, please reach out. If you want to see research on a specific aspect of our platform, please comment below.

Thanks and stay tuned!

– James

 

0 comment
0 FacebookTwitterLinkedinEmail

Wrapify added two more major cities this week, Baltimore and Portland, OR, to hit 29 cities total (up from 27) where our unique OOH platform is on the road.

Baltimore was a logical choice because it’s got a lot of commuters who drive–there really isn’t much great public transportation in that city–and some of its suburbs fall in the wavelength parameters covered by our new CBS Radio sales team.

Portland was also added because of the deep pool of driver interest and the city’s reputation as a cutting-edge spot for technology and hot startups. Plus, we have campaign activity on the horizon in the city and deemed it necessary to go live.

As I’ve written previously, one major goal for Wrapify in 2017 is to be active in the top 50 DMAs (designated market areas), and we are now well past halfway there. We’ve also passed 40,000 registered drivers, another milestone.

Wrapify welcomes Baltimore and Portland to our essential rolling family of drivers. We’re looking forward to announcing more campaign activations in each market as the year progresses.

Stay tuned!

0 comment
0 FacebookTwitterLinkedinEmail

Today, Wrapify launches an exciting and groundbreaking new strategic partnership with CBS Washington, D.C., and its six radio properties to sell the Wrapify platform to the communications giant’s clients, either in tandem with their radio advertising or on its own.

This is a classic “win-win,” if you’ll pardon the cliche, because it immediately puts 50+ salespeople in the D.C. market working on Wrapify’s behalf, while giving CBS a unique way to amplify its audio commercial messages with visuals. Wrapify pays American drivers to wrap their cars in marketing messaging while using our proprietary technology to track vehicles in real-time for brands.

<!–more–>

In the words of Rex Regner, Director of Product Development and Innovation for CBS Washington, DC., the partnership “will distance CBS from our competitors because it literally allows our advertisers to own the eyes and ears on the road.”

Moreover, this initiative is being integrated in the nation’s capital, a long-standing CBS innovation hub, where it is custom to test a new product before taking it wide across the Eastern seaboard, before then rolling out nationally.

I think this is going to be a slam dunk. Selling radio time is getting more competitive all the time, as streaming and music and talk from the cloud and other technologically-driven consumer shifts are increasing competitive platforms.

Wrapify is going to offer CBS Radio clients a chance to marry a visual impression to an auditory one, a multiplatform scenario that’s never existed before in that market–or any other. Imagine tooling around the Beltway or up the BW Parkway and seeing a wrapped car with messaging that reiterates the brand you just heard about on the radio. That’s gold.

Of course, it’s great for Wrapify to get the validation from a huge media conglomerate like CBS as well, and we’re grateful for the opportunity to show what our unique OOH platform can do for their sales team and reputation.

We’re excited, but hardly complacent–this only the first of several big Wrapify stories for 2017. We appreciate your interest and support and welcome any questions or comments about our platform!

0 comment
0 FacebookTwitterLinkedinEmail