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Spruce Media

sprucemedia.com

Founded Year

2010

Stage

Debt | Alive

Total Raised

$16.01M

Last Raised

$15M | 10 yrs ago

About Spruce Media

Spruce Media is a provider of enterprise-class marketing technology that delivers real results at scale, and drives consumers from likes to influence for the most successful advertisers, agencies, and trading desks on Facebook. Spruce has developed a robust solution integrating ad creation, bid management, analytics, and reporting into one easy to use, yet powerful interface, which can be licensed or coupled with managed services.

Headquarters Location

500 Third Street Suite 245

San Francisco, California, 94107,

United States

703-531-8605

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Expert Collections containing Spruce Media

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Spruce Media is included in 1 Expert Collection, including Ad Tech.

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Ad Tech

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Latest Spruce Media News

Spruce Media Losing Money on Facebook Ads

Dec 26, 2013

E-mail Spruce Media has to cut over 40 jobs in the last year due to the changing face of Facebook advertising. Spruce Media started their company focusing on buying Facebook ads for other marketers. They worked with big companies like Samsung and University of Phoenix. At one point, Spruce Media handled $150 million in Facebook media spending. However, this high did not last long. As marketers became better versed in Facebook advertising, companies were able to employ their own people in-house to handle their Facebook advertising accounts. This means many of the bigger companies are moving away from using outside contractors for this sort of work. In order to re-invent their company, Spruce Media has changed their focus to selling licenses to their Facebook marketing system. This created a software-as-a-service business model. Spruce Media isn’t the only Facebook marketing development company that is now struggling. Compass Labs just exited Facebook ads in the fall, and Syncapse went bankrupt over the summer. Syncapse’s bankruptcy left over a 100 people unemployed. All these companies were considered “Preferred Marketing Developers” (PMDs) for Facebook. There are approximately 300 PMDs offering nearly identical services. Despite these recent changes, representatives from Facebook assert the business is striving. According to one Facebook spokesperson, “The PMD ecosystem is healthy and thriving, and we anticipate that Spruce will help a number of advertisers, especially SMBs, get the right messages to the right people at the right time. We look forward to continuing to work with them.” In addition to running advertising campaigns, PMDs also monitor analytics for their clients. Spruce is currently focused on “custom audiences” business. This allows businesses to use their custom contact information in targeted ads on Facebook. Spruce’s software system will help companies manage custom campaigns. Despite the massive lay-offs, Spruce CEO insists the company is doing great and moving in the right direction.

Spruce Media Frequently Asked Questions (FAQ)

  • When was Spruce Media founded?

    Spruce Media was founded in 2010.

  • Where is Spruce Media's headquarters?

    Spruce Media's headquarters is located at 500 Third Street, San Francisco.

  • What is Spruce Media's latest funding round?

    Spruce Media's latest funding round is Debt.

  • How much did Spruce Media raise?

    Spruce Media raised a total of $16.01M.

  • Who are the investors of Spruce Media?

    Investors of Spruce Media include Square 1 Bank and QED Investors.

  • Who are Spruce Media's competitors?

    Competitors of Spruce Media include Adaptly and 2 more.

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