You can fill in your own joke at news that some heretofor IT venture investors have funded a company that does advertising on dry-cleaner hangers. I have to confess, however, that I’m impressed at how ballsy this is. Could you get it through your partnership? Really? I thought not.
INNOVATIVE IN HOME MEDIA COMPANY HANGER NETWORK CLOSES $8M IN SERIES A FUNDINGOffers advertisers unprecedented reach, frequency and consumer intimacy
Hanger Network (www.hangernetwork.com), the innovative in-home media company behind EcoHangers™, the environmentally friendly hangers which replace common wire hangers used in laundered/dry cleaned shirts, announced today the close of an $8 million round of venture capital financing. Kodiak Venture Partners and Sigma Partners co-led the round, which will help the company grow its sales force and attract additional brands to its stable of clientele who advertise to consumers through the EcoHangers™, which include L’Oreal, Dunkin Donuts and Revlon.
Hanger Network delivers in-home marketing through a proprietary network of 35,000 drycleaners in the US. This offers advertisers a potential weekly circulation of 52 million, covers all 210 DMAs, and has a 100% view rate at a fraction of the cost of a postage stamp. Advertisers can create programs regionally, nationally and by gender, and can include samples, coupons and advertisements. As the reach and effectiveness of traditional media continue to be negatively impacted by new technologies more major brands are looking to utilize in-home media solutions like EcoHangersâ„¢ to directly reach consumers.
[via Businesswire]
Related posts:
I seem to recall that a business of advertising on dry cleaning hangers was used as an example in Napolean Hill’s decades-old (classic?) book “Think and Grow Rich”.