TMCnet Feature

Social daily deals and shopping site Sneakpeeq announced last week it has raised $2.67 million in funding to propel the company’s success even further. The funding comes from multiple venture capitalists and will be used to create new site features, develop mobile applications, and enable video review options.

By attempting to replicate the shopping experience you would have in an actual store, Sneakpeeq is finding ways to encourage visitors to come back repeatedly. One example would be the site’s “peeq” feature, simulating the act of turning over price tags to view costs of an item. “Peeq” reveals the cost of an item instead of displaying them directly on the site for everyone to see. Although it adds an extra an extra step to the process, the Peeq button also offers discounts on certain items when you click on them. Giving the users the opportunity to get great deals the more they interact with the site.

At the end of 2011, Sneakpeeq agreed to a deal with Facebook that will allow the online shopping experience to become more interactive with a social application on the site. By allowing users to directly interact and display what they have purchased from Sneakpeeq on Facebook (News - Alert), it has created more interaction on the site and has driven business for those that have collaborated with the platform.

"Sneakpeeq provides a unique and creative platform for brands to get their products in front of new audiences and create excitement around them. The social shopping app actually creates meaningful sales for brands on Facebook, drives word of mouth and brings them new customers," said Sneakpeeq advisor Peter Levy. 

Although Sneakpeeq is still a relatively young company, it has a major opportunity to increase its brand awareness and continue the momentum of last year, according to company officials. It is also looking into mobile applications that will allow users to shop online. Mobile application shopping activities surged in the U.S. in 2011, especially during holiday season, and is predicted to increase even more in 2012.

By combining the mobile possibilities and its new Facebook application, Sneakpeeq is opening up all sorts of possibilities for companies looking to create meaningful sales in the online community. Whether a company is in the apparel, beauty, gourmet food or décor industry, Sneakpeeq will allow businesses that partner with the site to get their brand name out in the social realm. By allowing the public to interact and discuss products online, Sneakpeeq is creating affordable word of mouth marketing that could potentially elevate a brand to an elite status.