DURHAM – MindSumo, a startup focusing on crowdsourcing to find innovative solutions for clients and a member of the 2019 Triangle Tweener list of promising emerging companies as selected by investor Scot Wingo, has been sold.
MBO Partners, a Virginia-based company, announced the deal Tuesday.
Financial terms were not disclosed.
Here’s what Wingo had to say aboud MindSumo:
“Large companies struggle to get consumer feedback and spend hundreds of thousands of dollars for complex user studies that don’t hit the mark. What if you could go straight to your potential customers and ask things like: “Hey millennials, what’s your favorite thing to add to your avocado toast? “ With a $2000 price for the top answers. Boom, now you are getting consumer feedback fast and for, well, 2/100 or 2% of the cost! Mindsumo provides a platform to do just that.”
Some 500,000 Millennials and Gen Z members have utilized MindSumo, according to MBO Partners.
Clients have included Microsoft, Coca-Cola, Dell, Unilever, Disney, Deloitte, Starbucks, Capital One.
“MindSumo is a uniquely collaborative modern business model that offers real value for both parties,” said Miles Everson, CEO of MBO Partners, in the announcement.
“Savvy enterprises are rethinking the way work gets done, increasingly shifting from purchasing services to purchasing results. Similarly, savvy individuals are eager to share their expertise and realize immediate benefits. MindSumo makes this seamless. Adding this capability to the MBO platform, which enables frictionless transactions and engagement between independents and enterprises of all sizes, is a natural fit for all.”
MindSumo will operate as a business within MBO, the companies said.
MBO provides what it calls a proprietary “workplace ecosystem.”