Trust Raises $9 million, Partners with Verishop
LOS ANGELES, Aug. 11, 2021 /PRNewswire/ -- Today, Trust is launching the first card + community designed to help digital businesses make more money from their marketing investments. Trust is founded by a team of five Snap alums and has raised a $9 million seed round from Lerer Hippeau, Lightspeed Venture Partners, Upfront Ventures, and Upper90.
Trust is led by CEO James Borow, who built and scaled Snap's global programmatic ads platform into a multi-billion dollar business as Snap's Global Director of Revenue Product Strategy. Trust is designed to help digital businesses address their biggest marketing investment hurdles: volatile and opaque pricing models, an incentive structure tilted to favor the largest advertisers, and a lack of confidence and clarity as to where to invest. Trust helps digital businesses overcome these challenges with better data, advice, and buying power.
The Trust card allows businesses to increase their marketing buying power by up to 20x and receive 45-day payment terms for all their marketing investments. Trust cardholders also gain access to the Trust community, which unlocks:
Market-level performance data across the major digital advertising platforms
Visibility into aggregated and anonymized marketing investment trends
Advice and discussions on best practices from trusted businesses and industry experts
Curated news tailored to each business's specific marketing strategy
"We built Trust to help digital businesses make more money from their marketing investments. We believe the best way to do this is by helping them gain transparency and confidence when navigating the major advertising platforms," says Borow.
The explosive growth of e-commerce is placing an added emphasis on digital marketing investments. E-commerce grew by 39% in the US over the past year, while digital advertising spend is projected to grow 25% this year to $191 billion. Google (69%), Facebook (56%), Snapchat (116%) and Twitter (87%) all just reported rapid growth in their year-over-year advertising revenues.
Today, Trust is also announcing a strategic partnership with Verishop, the social shopping e-commerce platform. Through the partnership, Verishop's 3,500 merchants will receive priority access to the Trust card + community.
"The ability to invest in growth when you find channels that are performing is a competitive advantage. Our partnership with Trust instantly gives Verishop merchants more buying power and a trusted resource to help them identify new opportunities to invest in as they grow,'' says Imran Khan, Co-Founder and CEO, Verishop.
For more information, visit www.trust.co.
Contact: Daniel Druger
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