Rideshare advertising startup Firefly launches with $21.5M in funding

TechCrunch | 12/6/2018 | Staff
Click For Photo: https://techcrunch.com/wp-content/uploads/2018/12/Founders_-Kaan-Gunay-CEO-Onur-Kardesler-CTO.jpg?w=677

Firefly, a startup that allows rideshare drivers to make money through digital advertising, is officially launching today. It’s also announced that it has raised $21.5 million in seed funding.

The idea of sticking advertising on a cab isn’t new, but Firefly offers drivers what it calls a “digital smart screen,” allowing advertisers to run targeted, geofenced campaigns. The company has apparently run more than 50 ad campaigns already, during a beta testing period in San Francisco and Los Angeles, with hundreds of cars on the road.

IP - Differentiator - Co-founder - CEO - Kaan

“Being the first at building out the IP is going to be the main differentiator,” said co-founder and CEO Kaan Gunay. “Over half our team are engineers, and we have been extremely focused on developing core IP to make sure it’s scalable.”

In addition, Gunay said that thanks to the combination of Firefly’s targeting capabilities with its “strict” advertising policies (it won’t accept ads for strip clubs, tobacco and cannabis companies, among others), “We’re working with a lot of advertisers who might not even have advertised outdoors before. We believe we are expanding the market.”

Goals - Drivers - Uber - Lyft - Services

One of the main goals is to allow drivers for Uber, Lyft and other ridehailing services to make more money. In fact, Firefly says the average driver in its network makes an additional $300 per month.

Gunay explained that if the driver meets a certain threshold for hours on the road, the company will pay them a flat fee to carry its advertising — but he also said the company is exploring different ways to “maximize...
(Excerpt) Read more at: TechCrunch
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