Tapjoy CEO Mihir Shah has resigned today and former Disney executive Steve Wadsworth has stepped in. Tapjoy is a mobile app marketing company and they had an all-hands meeting at 11AM this morning. Tapjoy chairman Mark Leschley introduced Mr. Wadsworth, who worked at Disney for 17 years and worked on the company’s digital media and technology division. He oversaw the $700 million acquisition of Playdom.
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:
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