Offerpal Media, mostly known for its offer-based ads in social games, changed its name to Tapjoy, a rebranding meant to reflect its increased focus in mobile app distribution and ad monetization.
The company is adopting the name of mobile game developer and monetization firm Tapjoy, which Offerpal acquired in March. It says this renaming represents the completed integration of the two outfits as a single organization, as all product, sales, engineering, and other functions now operate under a unified brand.
Since its acquisition by Offerpal, Tapjoy has managed a Pay-Per-Install distribution service for mobile apps on iOS and Android platforms. Its virtual currency engine also enables virtual good monetization through ad offers and alternative payments. The mobile firm now plans to move its headquarters from Palo Alto to San Francisco.
The rebranding comes just a month after Offerpal's chief revenue officer Mihir Shah took over as president and CEO
-- the company's second chief executive shift in a year. Two months prior to that, the firm laid off
an unspecified number of its staff after losing a critical deal for Facebook's universal virtual currency system Credits.
"Our new name embodies the stronger and more diverse company we've become over the last several quarters," says Shah.
He adds, "It builds on the strong market position we've established under the Offerpal and Tapjoy brands as the leader in alternative payments and virtual currency monetization on web and mobile respectively, while representing our more recent successes with mobile and web application distribution."