Stik.com

Stik.com
Privately Held
Industry Business ratings and reviews
Founded San Francisco, United States (November 2010 (2010-11))
Founder Jay Gierak, Nathan Labenz
Headquarters Detroit, Michigan, United States
Area served
 United States
Products Internet rating and review services
Number of employees
 21
Website http://www.stik.com

Stik.com (legally known as Knew Deal Inc.)[1] is a US-based review site for local professional services. Stik brings traditional word-of-mouth business referrals online by aggregating verified consumer reviews of individual local professionals (e.g., realtors, mortgage brokers), helping local professionals and small businesses establish their online reputation. Integrated into Facebook and LinkedIn, the company also helps consumers find trusted professionals recommended by their friends and family.[2] As of August 2013, Stik hosts 2.5 million reviews and recommendations, and nearly 700,000 professional profiles.

Overview

Founded in 2010, Stik aims to bring authentic consumer reviews to the local professional services market.[3] Instead of focusing on whole businesses (e.g. restaurants) the way Yelp, Inc. and Urbanspoon do, Stik focuses on “consumer transactions that are infrequent, expensive, and have a high cost of failure”[4] (e.g., taking out a mortgage, purchasing a home). Stik is free for both consumers and professionals, though the site has recently introduced new premium options available to professionals for a fee.

Stik requires that all users "verify" their identity by linking their review or professional profile to their personal account on Facebook or LinkedIn.[5] The company claims that this integration reduces the number of anonymous fake reviews,[6] which undermine the credibility of online review sites. In September 2013 the New York Attorney General levied charges against reputation management firms anonymously posting fake content on sites like Google, Yelp, Citysearch and Yahoo.[7]

History

Harvard alumni Nathan Labenz and Jay Gierak co-founded Stik in November 2010,[8] on the back of a $500,000 round of seed funding led by venture capitalist Timothy C. Draper.[9]

In September 2012, Stik co-founders Nathan Labenz and Jay Gierak relocated operations from San Francisco to their hometown[10] of Detroit.[11][12][13] In so doing, Stik became the first Bay Area startup to move to the Motor City’s “burgeoning tech hub.”[14][15] The office was formerly located within the M@dison building and relocated around the corner in September 2013 as part of the Opportunity Detroit initiative after the expansion of the sales and development team.

In March 2013, Stik closed a $2.3 million Series A round, co-led by Detroit Venture Partners and North Coast Technology Investors.[16] Draper Associates, MEDC, First Step Fund, and Automation Alley[17] also participated in the round.[18][19]

Controversy

In 2011, Stik posted review requests directly on people's Facebook walls, which some users felt was spam.[20] Stik subsequently switched to sending all review requests via e-mail. There has also been some controversy about the Facebook permissions Stik requires, which include sharing your friend list.

See also

References

  1. ↑ "Knew Deal, Inc.: Private Company Information". Business Week. Business Week. 2013. Retrieved 27 August 2013.
  2. ↑ "Stik: CrunchBase Profile". TechCrunch. TechCrunch. 14 August 2013. Retrieved 25 August 2013.
  3. ↑ "Stik". CrunchBase. TechCrunch. 13 August 2013. Retrieved 20 August 2013.
  4. ↑ John Koetsier (21 September 2012). "Local-search site Stik leaves Silicon Valley for Detroit, announces $2.5 million funding". VentureBeat. VentureBeat. Retrieved 29 August 2013.
  5. ↑ David Muller (18 September 2012). "Stik.com co-founder: Detroit's developing tech scene allows company to be methodical with growth". Mlive.com. MLive Media Group. Retrieved 1 August 2013.
  6. ↑ Ken Spencer Brown (10 May 2013). "Ford, Others Mine Treasure Trove of Social Media Data". Investors.com. Investor's Business Daily. Retrieved 2 August 2013.
  7. ↑ David Streitfeld (22 September 2013). "Give Yourself 5 Stars? Online, It Might Cost You". nytimes.com. The New York Times Company. Retrieved 26 October 2013.
  8. ↑ Tom Henderson (18 September 2012). "Calif. firm joins growing tech fraternity at Madison Building". Crain's Detroit Business. Crain Communications. Retrieved 28 July 2013.
  9. ↑ Leena Rao (21 November 2010). "Stik Leverages Facebook To Help You Find Lawyers, Realtors And More". Tech Crunch. TechCrunch. Retrieved 14 July 2013.
  10. ↑ Matt Burns (10 December 2012). "From The Valley To The Motor City: Why Stik Moved Back to Detroit". TechCrunch. TechCrunch. Retrieved 19 August 2013.
  11. ↑ Matt Roush (18 September 2012). "Stik.com Moves From San Francisco To Downtown Detroit". CBS Detroit. CBS. Retrieved 12 August 2013.
  12. ↑ "A startup ditches Silicon Valley for Detroit - Tech Tonic". Reuters. Reuters. 15 February 2013. Retrieved 7 September 2013.
  13. ↑ "Mark Zuckerberg Harvard roommates bring tech company Stik to Detroit". WXYZ.com. ABC. 20 September 2012. Retrieved 2 August 2013.
  14. ↑ Sarah Schmid (18 September 2012). "Stik.com Relocates From San Francisco to Downtown Detroit". Xconomy. Xconomy. Retrieved 19 August 2013.
  15. ↑ http://dailynightly.nbcnews.com/_news/2013/04/30/17988877-entrepreneurs-find-success-in-detroit
  16. ↑ John Yang (30 April 2013). "Entrepreneurs find success in Detroit". NBCnews.com. NBC. Retrieved 9 August 2013.
  17. ↑ Automation Alley (4 March 2013). "Automation Alley makes $250,000 Pre-Seed investment in Detroit tech startup Stik.com". AutomationAlley.com. Automation Alley. Retrieved 27 August 2013.
  18. ↑ Matt Burns (3 March 2013). "Social Recommendations Startup Stik Relaunches, Raises $2.3M From Detroit Venture Partners And North Coast Technology Investors". TechCrunch. TechCrunch. Retrieved 7 August 2013.
  19. ↑ Alexis C. Madrigal (23 September 2012). "Detroit's Gleaming Start-Up Tower". TheAtlantic.com. The Atlantic. Retrieved 3 August 2013.
  20. ↑ Bernice Ross (2 June 2011). "Facebook referrals require deft touch". Inman News. Inman News. Retrieved 30 August 2013.

Official website

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