Bigdoor

Last week, in the midst of Denver Startup Week, we had a full day Foundry Group Exec conference. Ben Deda from FullContact convened about 100 execs from our 60 or so portfolio companies for the day. We had seven topics of one hour each, led by a different set of execs. The result was an incredible range of discussions across an amazing group of people. One of the attendees was Jeff Malek, the CTO of BigDoor . Jeff is super passionate about what he does and mixes humor with intensity with math. Following is something from Jeff to kick you in the ass this morning and get you charged up. ...

One of the most enduring challenges any Internet marketer faces is getting users to come back regularly and engage on their website. In other words; loyalty. Social gaming companies and a few very popular consumer web services have gotten extremely good at creating loyalty, where loyalty rate is defined as Daily Active Users (DAU) / Monthly Active Users (MAU). Yet when you look at loyalty rates on the rest of the web, they look downright abysmal. According to data from Nielsen, of the top 2,000 biggest sites in the US, only 21 of them have a loyalty rate better than 25%. In fact the average loyalty rate among the top 2,000 US sites is less than 7%. Do some quick math (7% * 30 days) and that means that on average their “active” users are only visiting their site two days out of the month. ...

I love getting post board meeting emails that are retrospectives from execs in the meeting. This one came a week ago from Jeff Malek, the CTO and co-founder of BigDoor . They’ve been on a tear lately and are in the process of a massive set of Q1 launches for new customers. We had a solid board meeting, but I suggested they were being too casual about a couple of things, including communication about what was going on. This is NOT a casual group and I knew using the word casual would press a few buttons. And they did – the right ones. Jeff’s retrospective is awesome and he was game to have me share it with you to get a sense of what’s inside a CTO’s head during and after a board meeting. ...

Today one of our portfolio companies BigDoor announced the acquisition of San Francisco-based OneTrueFan , a community and web check-in company. We invested in BigDoor a little over a year ago and they’ve made amazing progress on their gamified loyalty platform since then. In addition to having over 300 live customers, BigDoor is also conducting a private beta of a truly innovative solution that they call the Engagement Economy, and we expect it have long lasting implications on how the digital world engages and monetizes their audiences. ...

I’ve thrown my hat into the SXSW Panel Picker this year – please click here to upvote my panel titled An Inside Look at BigDoor’s Venture Funding. I’ve never presented at a SXSW panel because I usually like to stay flexible and check out whatever’s interesting, but we came up with an idea that got me excited enough to commit. An Inside Look at BigDoor’s Venture Funding is going to be me, Keith Smith (BigDoor CEO), and Andy Sack (Lighter Capital , Founder’s Co-op , and the TechStars Seattle Managing Director). Both are good friends of mine and have really interesting philosophies about startup funding. ...

Many of the companies I’m an investor in are hiring a lot of people right now. For a current view, take a look at the Foundry Group jobs page . I’ve interviewed and hired a lot of people over the year and I’ve developed my own perspective and philosophy on the best way to do this. However, I don’t feel like I have all the answers so I asked a few people that I respect a lot (and fit in my definition of VP of People ) to weigh in with their thoughts. ...

I love watching our portfolio companies iterate on their products, especially when they are in the early days. Initial efforts often provide nothing more than learnings, but turning those learnings into an improved product offering is a huge part of what being an early stage company is all about. BigDoor has been going through that iteration process over this past year and this last week they quietly launched a pilot of a new feature called “Quests” on UGO.com and a dozen other sites. BigDoor partnered with the talented folks at SpectrumDNA to bring Quests to life. At first blush Quests may just appear to be the addition of a directed-engagement type game mechanic, but what is going on behind the scenes is really interesting. ...

Wow – that was cool. Thanks for the help with the experiment in the post How To Score 30 Minutes With Me . Tons of great feedback – both in the comments, by tweets, and by email. In case you missed the post, I decided to offer one 30 minute session with me per week for the next four weeks in exchange for 10,000 Feld Gelt. At least one person found the “Purchase Feld Gelt” option (which I’ve since disabled, at least for now) and bought 9,995 Feld Gelt’s for $10 valuing my time at around $20.01 / hour! Oops. ...

Long ago I concluded that life is just a video game. We fly on airplanes to get mileage points so we can get free stuff and or level up to get more priority. We used to get green stamps (when I was a kid) whenever we bought stuff so we could get free stuff (most of it shitty, but free). Our credit cards have points programs (and lots of free miles), we get credit (implicit and explicit) eating at the same restaurants over and over ago, and when you buy a dozen cups of coffee at the coffee shop down the street from my (they still keep track of it with note cards and one of those funny metal punch things) you get the next one free. ...

If you are reading this on my website you’ll see a new bar popup at the bottom of your browser. It’s the BigDoor MiniBar. If you are a regular reader of Feld Thoughts, check in and join the community. We invested in BigDoor earlier this year as part of our Distribution theme. BigDoor’s goal is to “gamify” any website. They’ve built a very deep and rich set of functionality around game mechanics via a programmable API – things like checkins, points, badges, trophies, levels, and a virtual economy. For an example of a deep integration, take a look at Devhub or the summary article on TechCrunch titled DevHub Now Turns Building A Website Into A Game . ...