"Loomni" the 37th team to qualify for this year's MIT semi-finalist round
This story is provided by MIT Enterprise Forum - Pan-Arab Region.
Lebanese “Loomni” has been selected as one of the semi-finalist teams for this year’s MIT Enterprise Forum Arab Start-Up Competition for the Startups Track.
Loomni is a three-member team that offers a radically simple, yet powerful, self-serve online advertising panel enabling anyone to advertise online in just few clicks, regardless of his experience in this field.
Nagi, Monther and Karen commonly believe that they can level the playing field of online advertising and give everyone a fair chance to compete equally in the marketplace. They realized that digital divide in any market is amplified by complexities in online advertising, intimidating the vast majority and prohibiting them from starting with online advertising, leaving those who are experimented in marketing to monopolize the benefits of reaching users online. A gap they feel motivated to fix.
Loomni is intended to embody the easiest online advertising product, allowing anyone, and businesses of any size, to start advertising online within a couple of minutes, particularly those with basic or no skills in online advertising.
Loomni ads consist of a simple picture and text format, which can automatically be adjusted to fit any device and screen, eliminating the need for web designers, copywriters and marketing gurus. In just few clicks, anyone can use Loomni to create an online ad and reach millions of users effortlessly. Advertisers set the budget they want to spend and are charged only when users click on their ad. Loomni ads are served on a network of partner sites and consequently generates for them additional income through a revenue share model. Loomni also allows advertising youtube videos and any offline product that doesn’t have a website, targeting hence all the classifieds market.
In addition, Loomni ads are automatically adjusted to fit any mobile screen, enabling advertisers to reach users both on the web and on the go, and enables Loomni to capture a share of the massively growing mobile ads business.
Advice for entrepreneurs
Loomni believes the MIT Enterprise Forum Arab Startup Competition is a great platform to showcase their product to millions of users in MENA and beyond. As for entrepreneurs, the team advises “It is mandatory to 'just start', don't get consumed with rigorous business planning and analysis, the best feedback you can get is the users’ by launching your product in the market as early as possible”
Find out more about Loomni by:
Watching a video pitch about their project on: here
Checking their website: loomni.com
Following them on Twitter: @Loomni