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CEO Pitch: 'Ads Suck'…We Make Them 'Suck Less'

Erin Barry, CNBC Producer and Marqui Mapp, CNBC Associate Producer
Tuesday, 8 Jan 2013 | 12:48 PM ET
Power Pitch: Inside the Start-up World
Nihal Mehta, LocalResponse CEO, chats about his latest venture, which lets advertisers to respond to social media moments.

Serial entrepreneur Nihal Mehta has founded five startups to date, but he's hoping his latest enterprise is a game changer. Mehta's new business, LocalResponse, helps marketers respond instantly to consumers' real-time content on social networks Facebook, Twitter, Pinterest and Instagram.

He appeared on CNBC's "Power Lunch", which gives CEOs a chance to make a 60 second "Power Pitch" aimed at convincing a panel of experts that their start-up has what it takes to succeed.

LocalResponse's "intent-based marketing" strategy allows companies to target the right ad, to the right consumer, at the right time. The founder's motto: "We think ads suck. We're here to make them suck less."

LocalResponse is not alone in the mobile ad market. There's a lot of competition from places like RadiumOne, 33Across and MillenialMedia to name a few. However, LocalResponse said it distinguishes itself by targeting the consumer to the right ad at the right time.

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"We're true one-to-one targeting" says Mehta said. Other companies target ads using approximation, Mehta added, which he believes doesn't work.

The company, founded less than two years ago, boasts several billion impressions a month for major brands like Coca-Cola, GM, and Microsoft. It employs 27 people and has secured over $5 million in funding from venture capital firms Cava Capital, Vodafone Ventures and Verizon Investments.

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