SocialGuide, a startup that determines what TV shows and movies are popular by combing Twitter and Facebook, is in the process of raising a $500,000 debt round, according to the company’s latest SEC filing via FormDs.com. The first sale of securities, which includes both “debt” and “option, warrant or other right to acquire another security,” was on January 17th. SocialGuide has already raised $400,000 from 10 investors towards the round, with $100,000 to go.
“We are in a position as a company where we’re looking to achieve profitability over the next two quarters,” CEO and founder Sean Casey told Betabeat by phone. “We decided to put together a note that will help us get there. It was just the right financing.”
The Brooklyn-based service, located at 68 Jay Street in Dumbo, bills itself as “the first real-time Social Programming Guide.” By ranking what’s popular on social networks, according to keywords counts, and then surfacing “the shows that your friends are talking about,” the company is able to recommend what’s worth watching. No more hearing about the “Downtown Abbey” Christmas special a week after everyone else tumbled their favorite Dowager Countess-isms. In September, SocialGuide, which previously went by the name Talkwit, introduced a similar service for movies, which is currently in beta.
But its real value may be in data it collects about the budding field of social TV. Read More