Italian start-up Freeda Media raises a $ 10 million series A round led by Alven Capital. U-Start and business angels also participate in the tour.
Freeda Media manages the popular Freeda Facebook page. With nearly 1.4 million likes, the page has an impressive reach. 24 million unique users see the content of Freeda every month in Italy, including 100 percent of millennial women living in Italy. The company is also very active on Instagram.
In other words, Freeda Media is a new media company that operates primarily on social media platforms. Many Facebook posts are short videos, social breaks with subtitles and quick interviews. Some articles refer to Freeda's own website for more traditional articles with text and photos. But there is no front page per se .
With the roundtable of today, the company plans to expand to other markets, starting with Spain. More interesting, Freeda is still quite young because it took them 15 months to reach this level.
The company compares itself to other media brands for women like Elle, Vogue Teen, Vanity Fair, Cosmopolitan or Man Repeller. According to CrowdTangle, Freeda has a much higher engagement rate than its direct competitors.
Freeda Media's business model is branded content and native advertising. But the startup looks at other potential sources of revenue. There is clearly a risk of branded content overload for social media organizations. When you create a Facebook audience based on trust, your reputation can also deteriorate quickly and the algorithms can backfire. Until now, this does not seem to be a problem.
Internationalization will be the key to fostering Freeda's growth. If Freeda can reproduce the same impressive figures in several countries, the startup could eventually convince larger advertisers and distribute more or less the same content in several countries.