Tapjoy, the company formerly known as Offerpal, has raised $21 million in funding from Rho Ventures. Tapjoy is recouping from bad PR after TechCrunch exposed them for misleading users to fill out online offers in exchange for virtual currency. Tapjoy recently announced a new product to help developers distribute applications across multiple platforms. Tapulous, Glu, and Playdom are a few of Tapjoy’s 5,000 develop partners. Tapjoy now has a total of $40 million in funding. [paidContent]

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 released data that contains survey information about how much social gaming consumers are willing to engage in alternative payments for exchange of virtual currency.  Below are the stats:
-53.3%  percent of consumers are willing engage in alternative payments to earn virtual currency
-29.7% of social gamers do not have the ability or the means to pay for virtual currency with cash options

The study was put together using a study by comScore and Offerpal’s own monetization performance. Some of the alternative payments include filling out surveys, joining groups on Facebook, watching a video, shopping at retailers, or signing up for a subscription to a newsletter.

“The data we’re seeing shows that there is clearly a strong demand within social gaming for alternative ways to pay for virtual currency,” stated Offerpal Media CEO George Garrick in a press release. “When you think of how easy it is to conduct some of these marketing actions like watching a video ad, and the fact that so many people are already doing them online frequently and for no compensation, it makes complete sense that they might as well get rewarded in virtual currency for it. Our goal is to leverage all the most popular alt-pay methods to monetize the maximum number of users at the highest Revenue Per User for our developer partners.”