Our portfolio company Videoly allows online stores to easily add relevant videos to every product page. Videoly, the brainchild of Russian search expert Sergey Andryukhin, was founded in Finland in 2014 and has already expanded internationally.
Takeoff Partners has invested in Nonono.io, a service platform that makes it possible for consumers to publicly send constructive feedback to any company. The service leverages crowdsourced force of the consumer masses. At the same time, Nonono enables the targeted companies to solve the problems publicly in a way that gives them a great opportunity for turning a complaint into positive marketing.
Takeoff Partners is part of an investor consortium that will
provide Nonono.io a seed funding of EUR 155 000.
The founder and CEO of Nonono, Jaakko Timonen describes: “I came up with the idea by combining my experience with the state’s railway company VR’s feedback system and the idea of a ‘Lahti blog’ that only curates bad things about the city of Lahti”, he says. “I quickly figured that public criticism is an efficient incentive to provoke a reaction in any company, and that the power of the crowd easily outweighs the power of an individual feedback.”
Transparency creates trust
“Transparency creates trust’ is out motto”, says Jaakko Timonen, and continues: “When consumers realize they can trust their service provider also when problems come up, they will feel more secure as a customer. The smartest companies have already figured this out. Ikea, Stockmann and Elisa, among others, have already communicated to their customers through our service.”
Nonono’s vision is to create a service that’s fairer than the existing services towards the companies on the receiving end of the feedback. The existing services such as Yelp and TripAdvisor focus on rating the initial service experience, wheras Nonono rates the problem solving ability of the companies after the complaint has been handled. This meas the companies have a fair chance to impact their ratings with their actions.
Finland, then US
With the help of this funding round, Nonono’s service will be launched in Finland during early 2017. The company is eyeing market opportunities overseas, and aims at launching its service in the US already later this year.
The public beta version of the service can be found at nonono.io.