Localstars is a marketing technology start-up founded in 2008 by
George Dann. With an increasing number businesses and consumers
operating online, Dann saw an opportunity to provide professional
web video advertising campaigns to match the two together. Since
its inception the company has seen substantial growth, and in 2011
moved offices to join the growing tech community at the Silicon
Roundabout in East London.
0-5 seconds: Sum your business up in a
sentence
Providing publishers with the technology and tools to create and
sell high quality, affordable digital and online video advertising
campaigns that are suitable for small business advertisers.
5-10 seconds: What's the business model?
Our technology let's advertisers create and sell advertising
extremely quickly - helping them sell more. We charge a fee per ad
or video sold.
10-15 seconds: Who are your competitors?
There are a number of competitors around the world doing bits of
what we do - but we try and create an end to end solution makes
selling, creating and serving digital services easy and
effective.
15-20 seconds: What's your USP?
We've created an online platform that lets publishers
automatically create, upload and measure online video and
advertising campaigns for their customers. It's populated by
one of the biggest libraries of original video clips (that we've
created ourselves). To create an automated video ad, you
select the most appropriate library clip and personalise it by
adding the advertiser's logos and still images. The process can be
completed within minutes and we can enhance the finished product by
adding a professional voiceover.
20-25 seconds: How have you funded it so far?
So far we've been totally self-funded.
25-30 seconds: What were you doing before?
I'm a serial entrepreneur. Before Localstars I successfully
created, invested in and sold businesses in a variety of industry
sectors including technology, asset management and property.
30-35 seconds: Where did the idea come from?
We acquired a video technology company and began experimenting
with services we could create around video, advertising and video
delivery - speaking with online publishers, we realised they needed
a service to create digital ads extremely quickly and that is the
need we serviced.
35-40 seconds: What's the smartest thing you've done so
far?
In the first year of operations we made no attempt to make
sales. Instead we focused on understanding the
challenges and pain-points of our primary customers - regional
publishers. We held over 150 meetings with publishers to
learn about the issues they were facing in trying to adapt their
advertising model to incorporate digital advertising.
40-45 seconds: What's the stupidest?
"See above! Went through a lot of shoes, notepads and developed
grey hair."
45-50 seconds: If your business was a biscuit, what would
it be?
Although technically not a biscuit, I'd go for a Jaffa Cake,
because it's got a smashing bit of magic in the middle.
50-55 seconds: Which idea are you a bit jealous
of?
I'm not really jealous of things - if we spot and opportunity we
just try and do it. Although Paul Allen's got a good life!
55-60 seconds: Where are you going to be in 12 months'
time?
In twelve months' time we'll double the volume of ads and videos
created on our platform and have successfully expanded
internationally.
For more information about Localstars, click
here
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If you're interested in a start-up business bank account, contact NatWest
to realise your ambitions.