Who would have thought that a funded start-up can come up between conversations in comment boxes?
Engagio came into being just four months after Mr. William Mougayar, founder of Equentia, started posting on comment boxes on Mr. Fred Wilson’s blog regarding the “scattered comments” problem as comments feeds from the multitude of social networking sites became very tiresome to manage. What Engagio does is that it keeps conversations going and makes them searchable,. It also shows incoming and outgoing comments plus information on the person you are talking with.
“The whole thing was more or less conceived on Fred’s blog, and it came as a result of my involvement as a frequent commenter not just on his blog but elsewhere,” Mr. Mougayar said in a phone call with Betabeat. “I believe in commenting as a value element because it’s not just commenting, it’s conversations and I have developed relationships with people that I have started to comment with.”
Early investments came from Rho Canada (Montreal), Real Ventures (Montreal), Bullpen Capital (Menlo Park), Michael Yavonditte (New York) and Extreme Venture Partners (Toronto), and of course Mr. Wilson which amounts to $540,000.
Since the website opened to the public at the end of January, Engagio has reached more than 3,000 users. Mr. Mougayar hinted that he has a few monetizing ideas in mind but would rather not discuss it yet since they are still focused on increasing the user base.