Taiv Inc., a groundbreaking ad platform designed to empower bar owners, has seen remarkable success since its inception. Founded in Winnipeg in 2018, the company is currently operational in 4,200 venues across the United States and plans to extend its reach into Canada by 2027. With a staggering growth rate of 7,432 per cent over three years and a recent funding round that valued the firm at nearly US$100 million, Taiv is quickly becoming one of the most promising tech companies to emerge from Canada.
From Idea to Reality
The concept for Taiv was born out of a personal experience faced by co-founder Noah Palansky. While watching a Winnipeg Jets game in a local bar with his future wife, he noticed an advertisement for a competing venue on the TV screen overhead. This sparked the realisation that many bars were inadvertently losing business to rival establishments through traditional TV advertising. Recognising a gap in the market, Palansky, alongside his team, developed Taiv to enable venue owners to take charge of the advertisements broadcast during commercial breaks.
Since its launch, Taiv has garnered attention not just for its innovative business model, but also for its rapid expansion. The company recently raised US$13 million, surpassing its previous funding round of US$10.5 million last June. The latest investment was spearheaded by Copenhagen’s IDC Ventures and Los Angeles-based Emerging Ventures, with backing from prominent investors including Y Combinator and Garage Capital.
How Taiv Works
The technology behind Taiv is both sophisticated and user-friendly. By integrating a black box between a venue’s television and cable box, Taiv leverages artificial intelligence to replace traditional commercial breaks with targeted ads curated for each venue. This system allows venue managers to control which ads are shown via an online portal.
Palansky noted the platform’s versatility, stating, “An advertiser can be like, ‘I only want to turn this on when in front of a happy audience whose team is about to win.’ We have all sorts of granular, real-time classification that is running.” This capability means that venue owners can also showcase in-house promotions, enhancing their advertising efforts without additional costs.
Taiv’s revenue model is primarily based on ad sales, partnering with major brands such as Pepsi, T-Mobile, and FanDuel. For instance, a campaign for Bacardi’s spiced rum on Taiv screens generated 50 million impressions and significantly increased sales, demonstrating the platform’s effectiveness.
Customer Reception and Future Plans
Feedback from clients has been overwhelmingly positive. Max Reiff, a partner at IDC Ventures, remarked, “During customer reference calls, we didn’t find anyone that didn’t like the product. They said, ‘How can I not like this? It simplifies my life and it pays me.’”
The platform’s seamless integration has led to wide acceptance, with establishments like Gibsons Restaurant Group incorporating Taiv into several of their locations. Director of Marketing Liz Lombardo Stark expressed that the process was “seamless” and a “no-brainer” for their advertising needs.
Taiv is currently active in 31 U.S. markets and has plans to expand to 75 new locations this year alone. With the goal of entering the Canadian market in 2027, the foundation for growth looks promising.
The Journey of Taiv’s Founders
Taiv’s founders, including Palansky, who has a background in marketing and computer science, have overcome significant hurdles since their launch. Palansky’s entrepreneurial journey began at a young age, motivated by personal circumstances, and was later joined by his sister Lexi, who now serves as the vice-president of media sales. The initial launch faced delays due to COVID-19, prompting the team to pivot and begin operations in Florida, where they quickly gained traction.
Why it Matters
Taiv’s innovative approach to venue advertising not only empowers bar owners but also transforms the way brands engage with consumers in social settings. By addressing a significant gap in traditional advertising, Taiv is reshaping the landscape for both advertisers and venue operators. As the company continues to grow, its success may serve as a blueprint for future tech startups aiming to disrupt established industries. The implications of its model could redefine advertising strategies, benefiting consumers and businesses alike while setting a new standard for targeted marketing in the hospitality sector.
