Silicon Valley Unicorn will spend big on a Super Bowl 50 commerical.
Social Finance Inc. (SoFi) is taking the plunge and will run its first Super Bowl commercial. The SoFi Super Bowl 50 ad will be part of a $20 million TV and digital ad effort.
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The Silicon Valley unicorn will splurge about 20% of its annual advertising budget on the Super Bowl. SoFi will support its first ever Super Bowl commercial with ads on digital channels such as Facebook, YouTube and Instagram.
The tag line for the new campaign is "Don't Bank. SoFi." SoFi is a leader in online lending, with over $6 billion dollars in loans issued. SoFi is transforming financial services for financially responsible consumers with student loan refinancing, mortgages (now available to residents in 24 states and Washington, D.C.), mortgage refinancing, and personal loans. Since the beginning of the year, SoFi is no longer factoring the FICO scores into its loan qualification process.
Unlike traditional lenders, its proprietary underwriting approach takes into account merit and employment history to offer unique credit products our members won’t find elsewhere. SoFi offers individual and institutional investors the ability to create positive social impact on the communities they care about while earning compelling rates of return. In the Fall of 2015, SoFi announced $1 billion in Series E funding.
At an evaluation of about $4 billion the Silicon Valley startup is a sol called unicorn. A Silicon Valley Unicorn is defined as a startup with more than $1 billion valuation.
SoFi has not revealed any details about the SoFi Super Bowl 50 commercial in an interview with the Wall Street Journal, SoFi's Joanne Bradford only revealed the company's motivation to chose the Super Bowl to spend the ad budget on.
"Nothing could beat the Super Bowl for the impact of that moment and the brand awareness that it offers,” said Bradford to the WSJ.
The SoFi Super Bowl 50 Ad has been already released. You can watch the ad below. The SoFi ad show that it can be hard to tell who's great and who isn't. While the message of the ad is great, the SoFi ad will be likely going under during the Big Game as its not exciting, funny or anyway standing out.
Super Bowl 50 will take place on February 7, 2016, in Santa Clara, at the Levi's Stadium. The stadium is the home of the home of the San Francisco 49ers. Super Bowl 50 will be topping all previous Super Bowl's because of the anniversary. Marketers are flocking to Super Bowl 50 and it will be a huge TV event. Read our Super Bowl 50 Facts to learn everything important about Super Bowl 50.
Find out which Super Bowl 50 Ads will be airing during the Big Game in 2016 and which celebrities will star in the Superbowl 50 commercials.
CBS is broadcasting the Super Bowl 50. The Super Bowl 2016 game will be preceded by a weeklong series of public events held throughout the Bay Area. The Super Bowl City fan village, the NFL Experience and the Media Center will be hosted in San Francisco.
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Read the latest Super Bowl 50 News.