Offerpal Media Acquires Tapjoy
Offerpal Media has bought out Tapjoy. Tapjoy is a mobile application monetization company and Offerpal Media is a social gaming monetization company. That makes them a good match. Tapjoy is very profitable according to the founders. Tapjoy was founded by Lee Linden and Ben Lewis. Their platform has been integrated into apps by over 1,000 developers. Their platform reaches about 25 million mobile consumers. Below is the full press release:
Offerpal Media Acquires Leading Mobile Monetization Provider Tapjoy
Transaction strengthens Offerpal’s position as the leader in monetizing and distributing mobile applications
Fremont, CA – March 23, 2010 – Offerpal Media (http://www.offerpalmedia.com), the leader in virtual currency payment alternatives, today announced it has acquired Tapjoy, creators of the Tapjoy platform for mobile developers and the leading provider of monetization and distribution services on the iPhone, Android and other emerging mobile platforms. The acquisition accelerates Offerpal’s expansion into the rapidly growing mobile market by extending the company’s virtual currency monetization model to mobile applications.
The Tapjoy platform includes a turnkey software library that enables mobile developers to embed fully functional virtual goods storefronts with the ability to process microtransactions. The library also comes with a built-in Pay-Per-Install user acquisition program, an ad optimization layer and application analytics. As part of the agreement, the co-founders of Tapjoy will join Offerpal in leadership positions to help expand its mobile business. Financial terms of the acquisition were not disclosed.
“There are more than 200 million mobile phone users in the U.S. alone, and most of them will soon have a way to play games on their devices,” said George Garrick, Chairman and CEO of Offerpal Media. “We also expect the microtransaction model to move beyond games, and for there to be practically unlimited applications for microtransactions on mobile platforms as well as the Web. The addition of Tapjoy provides us with a proven product that dovetails nicely with our own platform strategy and creates tremendous economic advantages for mobile developers.”
Offerpal Media’s full-service monetization platform is a hosted service empowering more than 2,000 game developers and social publishers to monetize virtual currency through alternative payment methods such as offers, surveys, videos, shopping rewards, tasks and more. The company first announced its mobile program in January, 2009. Today, mobile-friendly versions of its network offers are running on top iPhone applications such as Tap Tap Revenge, Tap Farm, Papaya, Mobsters: Big Apple, and many others.
The Tapjoy founders, Lee Linden and Ben Lewis, originally developed top-ranked iPhone applications such as TapDefense, TapSudoku, TapWord and others. They used key learnings from building their own bestselling and highly profitable apps to create the Tapjoy services that now benefit other developers. Currently, more than 1,000 mobile developers have integrated all or parts of the Tapjoy library, and the company’s annual installs, user base and revenue is expected to quadruple this year. Tapjoy’s reach extends to over 35 million mobile consumers. The Tapjoy library is the leading virtual goods and virtual currency service on the iPhone and the only such service available on the Android.
“The opportunity for innovation in mobile gaming is almost unlimited, but developers face great challenges when it comes to monetizing and distributing their applications,” said Lee Linden, Co-founder of Tapjoy. “Our goal is to help mobile developers improve their applications, grow their user bases and generate higher revenues, and through this deal with an industry leader like Offerpal, we can now do all of that more effectively.”
About Offerpal Media
Offerpal Media is the leader in virtual currency monetization for online games, virtual worlds and social networks. The company’s turnkey payment platform gives consumers the opportunity to earn virtual currency for free by taking part in targeted advertising offers, shopping at big-brand retailers, completing online surveys, watching videos or otherwise engaging with brands. Since its launch in 2007, Offerpal has issued more than 1 trillion virtual points to over 225 million consumers across 2,000 publishers. The company is headquartered in Fremont, California. Investors include Interwest Capital, North Bridge Venture Partners, and D. E. Shaw Ventures. For more information, visit www.offerpalmedia.com.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry