While doing our daily research on the web 2.0 deals we came across a very interesting start up that deserves to make our web 2.0 innovations list – Predictify.
Essentially it is a very interesting and pretty innovative idea of using the wisdom of the crowds and the collective intelligence principles to predict in behalf of advertisers and market researchers. It is community-driven prediction 
market that pays and rewards users for their accuracy, which guarantees user engagement at higher level.
We’ve found out the site has launched just this last October and since then it launched its platform where other companies can create co-branded prediction centers. Freakanomics was Predictify’s launch partner for the platform, where readers can predict outcomes discussed on the Freakonomics blog.
The company has announced today it has closed $4.3 million round of funding, from Sierra Ventures and Sherpalo Ventures. Mark Fernandes, a managing director at Sierra Ventures, will be joining the Predictify board. Predictify has taken so far only an angel round of funding a year ago, but the amount is not publicly disclosed.
More about Predictify
Predictify is a prediction platform where users can predict the future and build a reputation based on their accuracy, and marketers can post questions to collect actionable, forward-looking data “from the crowdâ€.
Predictors
Predictify provides a simple, fun way to predict the future. You can research, discuss and predict what will happen, build a reputation based on your accuracy, and even get paid real money when you’re right (tell me more). Best of all, it’s free – no points or bets required.
Advertisers
Predictify is an effective way to create interactive advertisements by posting a question related to your product or service. Users’ incentive to be accurate leads to a high level of engagement in your marketing message. The resulting data set, which includes demographic information, provides insight into the preferences of existing and potential customer segments.
Market Researchers
Predictify uses advanced statistical methods to identify experts among their users based on past predictive accuracy, and combines this with demographic information to provide unique, crowd-based insight. You can tap into this user base to collect a large sample of predictions about future events, trends, and market data. Predictify’s unique system captures the full distribution of beliefs, not just the average, and provides easy-to-use graphical tools to analyze the results.
Here is quickly how it works
Predictify is a prediction platform where users can predict the future and build a reputation based on their accuracy, and marketers can post questions to collect actionable, forward-looking data “from the crowdâ€.
Submit a Prediction
- Browse or search for questions that interest you
- Predict the outcome – it’s free, no points or bets required
- Build a reputation based on the accuracy of your predictions
- Earn real money – payouts increase as you achieve higher levels of expertise
Click here to predict!
Ask a Question
- Compose a question about the future that will have an objective, verifiable outcome
- Submit your question for approval – it’s free (or select Premium to get demographics for $1 per response)
- View the interactive, graphical results as users submit predictions (example)
Click here to post a question!
More
http://www.predictify.com/
http://blog.predictify.com/
http://mashable.com/2008/03/25/predictify-funding/
http://mashable.com/2008/03/02/predictify-freakanomics/
http://marketplace.publicradio.org/display/web/2008/02/05/predictify/
http://www.infoworld.com/article/07/12/10/50FE-crowdsourcing_1.html
http://freakonomics.blogs.nytimes.com/2007/10/25/a-new-prediction-market-for-the-masses/
http://dilbertblog.typepad.com/the_dilbert_blog/2007/10/hiring-republic.html
http://www.webware.com/8301-1_109-9794602-2.html
http://mashable.com/2007/10/08/predictify-live/
