CivicScience now worth billions, say earlier funders, distant relatives
Pittsburgh, PA 7/16/2012- The Securities and Exchange Commission last week ratted out digital polling company CivicScience for closing on $2.86 Million in outside funding. The deal positions CivicScience for a multi-billion-dollar acquisition before the holiday shopping season, according to early shareholders, estranged girlfriends, and distant family members.
“I haven’t seen my second cousin [CivicScience Engineer John Crowe] since grandpa’s Labor Day pig roast in 1992 but we’re like brothers,” said Curtis Crowe, who is three months behind on his child support payments and unable to pay his tab at the American Legion. “After this huge deal, clearly the employees should be worth millions, hopefully before the end of the month if possible.”
The investment round was led by Boston-based New Atlantic Ventures (NAV) and media behemoth Cox Enterprises in Atlanta. Todd Hixon of NAV will be joining the company’s Board of Directors. As part of the deal, Cox Media Group has also begun deploying CivicScience’s polling platform across its network of digital properties.
Cox will be joining other major media companies like Scripps Digital, Digital First, BELO, McClatchy, Hearst, NY Daily News, BlogAds, and hundreds of other web publishers who deploy CivicScience polls on their sites. The new capital will be used to expand the CivicScience engineering team, buy a new dart board, and whittle down the founders’ ownership of the company.
“The support of companies like NAV and Cox will enable us to grow our company like never before,” said John Dick, CivicScience’s Founder and CEO. “Besides, the whole ‘being my own boss’ routine was getting really old. I’m really excited to start managing upward, asking for permission to send out irreverent press releases, and otherwise doing a bunch of written reports.”
Powered by engineers and data scientists from Carnegie Mellon, CivicScience optimizes polls on third-party websites by adapting questions to individual users in real-time. The polls increase engagement while providing valuable real-time audience insights back to the publishers, which they use to improve advertising and content. CivicScience then combines and analyzes data across its network to sell unique consumer insights products into the brand management, financial services, and political sectors.
“With players like NAV and Cox behind them, CivicScience is totally deserving of one of those billion-dollar valuations Facebook has been tossing around,” remarked Nicole Kane, wife of early CivicScience investor Scott Kane, while filling out a credit application at Restoration Hardware. “I’ll bet they’re partying at Zuck’s house right now hammering out a deal.”
While CivicScience believes the investment will be a significant boost to the company’s capabilities, management is disputing the inflated valuations being cited by others. “Right now we’re focused on improving our product and technology,” commented Mr. Dick. “And no, I can’t lend you twenty bucks.”