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This article was published on February 4, 2013

    Social referral platform Owned It secures over $157,000 for expansion and development

    Social referral platform Owned It secures over $157,000 for expansion and development
    Jamillah Knowles
    Story by

    Jamillah Knowles

    Jamillah is the UK Editor for The Next Web. She's based in London. You can hear her on BBC Radio 5Live's Outriders. Follow on Twitter @jemi Jamillah is the UK Editor for The Next Web. She's based in London. You can hear her on BBC Radio 5Live's Outriders. Follow on Twitter @jemimah_knight or drop a line to [email protected]

    Owned it‘, the social referral platform that aims to increase revenues and conversions has secured £100,000 ($157,000+) in an investment from Finance Birmingham in the UK, and private investors.

    The company hopes to use the money to develop and add new apps to Owned it’s existing suite of social and marketing apps.

    One of the apps currently in development is the ‘Feedback app’ which is designed to capture the online shopping experience of customers. The information gathered can then be used to improve conversions and reduce the rate of cart abandonment.

    owned it screen

    Along with this, Owned it is planning to extend the reach of promotions and offers via its various social channels.

    owned it screen 2

    Finance Birmingham was launched in 2010. It’s a business loan fund which offers a £10 million package of loans to small and medium businesses based in the region. Birmingham City Council works alongside Finance Birmingham which is acting as an agent for the council to oversee the fund.

    Image Credit: Phil Aaronson / Flickr