The Cuteification of Failure

The Start-Up With the Cutsiest Name Is Baaack

loffles The Start Up With the Cutsiest Name Is Baaack
Were you thinking Etsy? Twitter? Hipmunk, perhaps? Betabeat did an in informal survey, and the start-up that wins cutest is… Loffles! Which is why we’re allowed to write about them even though they’re not based in New York. Loffles. It’s like the lottery, plus ROFLing. Loffles loffles loffles. How do you write that on a term sheet without giggling?

What is Loffles? This question leads us to the other nifty thing about this Providence, Rhode Island and Gladwyne, Pennsylvania-based start-up. Loffles, which raised at least $162,000 (UPDATE: A Loffles rep called us–Loffles raised the full $500,000 they were looking for) in seed money this spring, boils the web start-up business model down to its most basic level, incentivizing people to look at advertising and give up information about themselves so that advertisers can more effectively target their markets. Isn’t it crazy that this whole web 2.0 boom–Google, Facebook, Twitter–is motivated by advertising?

Enter Loffles: Where Watching Is Winning! People answer demographic questions and watch short ad spot for a chance to win a prize. Basically the same mechanism as Facebook, or those banner ads where you had to shoot the deer, but more straightforward. “We talked with people and found out what they wanted. That was easy: they wanted free cool stuff. Next we talked to the advertisers. We found out that they wanted their ads watched by the right people. So we created a system that presented targeted ads to specific demographics and threw in some fun, branded viewer quiz questions to prove to advertisers that the right people were watching. Then we bought prizes.”

Caveat: This is probably a terrible business idea.

Loffles.

Follow Adrianne Jeffries on Twitter or via RSS. ajeffries@observer.com

Comments

  1. Nitasha Tiku says:

    The Loffliest Loffles. Reminds me of waffles.

  2. Brandon says:

    Hi Adrianne,Thanks for taking the time to review Loffles (name from lottery + raffle). Our bunny is pretty cute, I can’t argue with that.Loffles is not incentivized advertising. This is a sweepstakes destination site that offers users access to prizes from brands they enjoy.Sweepstakes are a proven way to drive engagement and build brand awareness. Most current sweepstakes use a standard form: enter your name, enter your email, press submit, and move on.We provide a sweepstakes solution (and I am happy to share samples of the contests we are creating) where the entry action requires a user to engage with branded rich media. The focal point of contests is the brand’s product or service.That’s a whole lot more engaging than sweepstakes like this: http://www.crayola.com/promos/dreammakers_kmart/entry-form.cfmThe contests are designed to build excitement around brands and their offerings. I’ve included my email below.Thanks.Sincerely,Brandon YoshimuraFounder at Lofflesbrandon@loffles.com

  3. Jhoffman says:

    The name is a bit iffy, but the prizes are legit. . . already won Fifa 2011 for xbox

  4. Vincent Tumbleson says:

    The site’s definitely going somewhere, I love the idea