On this episode of Startup Show, host John Biggs sat down with Noah Palansky, the CEO and co-founder of Taiv, to discuss his venture and how it aims to change the advertising industry. The concept of Taiv is rooted in the belief that people who view and showcase ads should receive a piece of the revenue.
To achieve its ideals, Taiv delivers free content and ads via a device that connects to TV screens used by bars, restaurants, and similar establishments. When an ad is shown, the venue earns revenue, making advertising both beneficial and profitable for all parties involved.
But how does Taiv set itself apart from the plethora of similar concepts that have failed to take off in the past? The secret sauce is their use of AI, which meshes seamlessly with existing setups and avoids the necessity of dedicating an entire screen to advertisements. The device sits between any video source and a TV, accomplishing real-time analysis and gaining context on the content being shown. The venue can then customize the entire experience, switching to different feeds as needed for a highly user-friendly experience.
While the bulk of advertisements shown are relevant to the venue, the system does need to show third-party advertisements to cover costs. However, Palansky maintains that they bring added value and interest to the mix, with examples including drink special deals sponsored by multinational brands like Pepsi and Bacardi.
On the topic of revenue, Palansky said that payment is quite straightforward, occurring through wire transfers or checks. What’s more, venues can keep real time tabs on their earnings, logging into their account to check the figures like they would on any e-commerce platform.
But there are still challenges. The startup faced the classic “chicken-and-egg” issue. To work with large-scale brands like Pepsi, they needed a substantial audience, but for the venues to come on board, they needed to partner with such brands. Their initial approach of door-to-door selling in Miami eventually paid off as they gained traction, resulting in over 800 venues now using Taiv across 9 cities.
In addition, Palansky referred to the immense value of his non-technical co-founder Avi in driving sales. Avi’s background in the restaurant industry and his experience selling food delivery software meant he had a seasoned playbook to turn to, but he was also uniquely equipped to understand the pain points and language of their target audience.
Looking ahead, Taiv plans to expand its horizons and serve a wider range of businesses by collaborating with companies that have screens in venues, offering them the infrastructure to integrate advertising into their setup and share in the revenue generated. This new product is currently in beta and has met with a resounding reception thus far.
Financially, Taiv has raised several million dollars to scale its operations, build its hardware and inventory, and bridge cash flow gaps. It boasts an impressive roster of customers and investors who have identified the vast potential and effectiveness of a system that appears equipped to disrupt the advertising industry, one venue at a time.
