Zvents, a Web 2.0 app that enables local sites to manage events, including events inputted by users, announced today that it has received $7 million from several VC firms, including Vantage Point Venture Partners (a funder of ReachLocal). It also announced a new newspaper partnership with The Boston Globe, adding to prior relationships with Media News Group’s The Denver Post, and The San Jose Mercury News, and McClatchy’s Miami Herald. An additional deal in “Greater Los Angeles” is promised before the end of 2006, which probably means MNG’s Los Angeles News Group.
Founded in early 2005, the company operates on a revenue share basis with its media partners. It not only manages event calendars, but adds a social context to the events guide. It also promotes cross-site traffic by connecting editorial reviews and news.
While the site is pursuing media partners in local markets, it could go solo via a self-serve ad component for local advertisers. But the company says it has no intentions of doing this. (See Comment below).
Company CEO and founder Ethan Stock says that the events category is naturally aligned with newspapers. In fact, the difficulty of having comprehensive and accurate event lists is the real barrier to local inroads by the portals (although apparently, that is evolving — he is in talks with the top five portals). In addition to deals with newspapers and portals, Stock says that the company is pursuing local verticals, such as sites for local mothers.
Zvents, of course, doesn’t have the field to itself. Another events company, San Diego-based Eventful (formerly EVDB), is also in the marketplace, albeit in a broader, extra-local context. The site also competes with social network sites, such as Yelp, and news aggregators such as Topix that also feature events. But it is probably safe to say that Zvents is the only site focused specifically on events in the local marketplace.
To be sure, local event listings are a key differentiator for newspapers over other local media (i.e. radio and TV stations and city guides). One reason is that they have been manpower intensive and difficult to maintain. I remember walking into Microsoft Sidewalk in 1999, and seeing all the events for Seattle written out on index cards. That’s when I finally realized that Microsoft’s vaunted technological advantages amounted to nothing.
Peter,
Thanks for the post. A couple notes. First, our self-serve advertising system doesn’t imply that we may “go solo” as you put it. The system is integrated with our search/content product, and will be deployed from Q1 with our media partners.
Second, the Miami Herald is a McClatchy property, not MNG.
Note from Peter: My mistake about the Herald’s ownership. I’ve corrected it in the text.
Peter, you say, “also in the marketplace, albeit in a broader, non-local context.” Eventful has a strong local focus — how could we not, given that events are inherently local. Could you explain the “non-local context” comment?
Note from Peter: Boy, where was my mind when I wrote this one! Vis a vis Brian’s comment, I meant to say “Extra-Local,” not “non-local.” Indeed, Eventful has all kinds of events, online and offline. They’re my hometown site, and I root for their success!