gWallet is an offer-based ad network company that focuses on virtual goods and online games. gWallet raised $12.5 million from Adams Street Partners, Trinity Ventures, and Stanford University. The funding will go towards opening an office in London and in New York City.
gWallet plans to avoid some of the same scams that Zynga accepted as ad deals by offering a “transparent” platform. This means that game developers and social networks choose what ads to accept.
Gurbaksh Chahal is the founder of gWallet and he has experience in selling advertising companies. Chahal founded and sold ClickAgents to ValueClick and then BlueLithium to Yahoo! BlueLithium was bought by Yahoo! for $300 million. Although I admire Chahal for his entrepreneurial spirit, I thought his reality show Secret Millionaire was terrible.