Chicago startup receives seed money

Throughout the nation startup businesses are formed each day. While they focus on providing a variety of products and services currently some of the most popular are technology startups. The city of Chicago is welcoming these types of businesses.

Recently, a technology startup based in Chicago received news that it was the recipient of $1.1 million in seed money. The business, Perfect Audience, assists small businesses in providing online ads to previous visitors to their web sites. The additional money will make it possible for Perfect Audience to expand into the world of Facebook and "retarget" web site visitors by including ads on the popular social networking site.

The small businesses of the sort the startup generally works with can accomplish this new goal in a simple manner. All they need to do is complete an online form and Perfect Audience will do what is necessary to get the ads appearing on Facebook in a short amount of time.

The existence of both startups as well as small businesses is vital to the economic health of the nation. To keep businesses of this size going, there is an increasing dependence on online marketing such as this.

Since news broke of the startup's ability to retarget by having ads appear on Facebook, the business has reportedly signed up 75 new clients. While it is not known how much additional revenue this will bring into the company, it most certainly is the type of growth that businesses like this are seeking.

Source: Chicago Sun Times, "Chicago tech investments cover big and small," Sandra Guy, Oct. 4, 2012

  • Matters pertaining to closely held businesses can be complex. Our firm handles similar situations to the one discussed in this post. If you would like to learn more about our practice, please visit our Chicago small business formation page.

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