Social media ad company Offerpal Media announced its acquisition of Tapjoy, which provides a platform for monetization and distribution services on iPhone, Android, and other emergent platforms. The firm's co-founders, Lee Linden and Ben Lewis will join Offerpal in leadership positions to help drive its mobile business.
Founded in 2008 and based in Palo Alto, California, Tapjoy
offers a software library allowing mobile developers to embed virtual goods storefronts capable of processing microtransactions into their applications. The library includes a built-in Pay-Per-Install user acquisition program, an ad optimization layer and application analytics.
More than 1,000 mobile developers have so far integrated all or parts of the company's library into their titles, and have reached over 35 million mobile customers. Offerpal says Tapjoy's annual installs, user base, and revenue are expected to quadruple in 2010. It did not disclose financial terms for its acquisition.
Offerpal announced an extension of its own monetization platform -- which has helped over 2,000 developers and publishers integrate alternative payment methods such as offers, surveys, videos, and more into their titles -- to mobiles in January 2009. Mobile versions of its network offers are currently available in iPhone apps like Tap Tap Revenge, Mobsters: Big Apple, and many others.
"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," says Offerpal CEO and chairman George Garrick. "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."
He continues, "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."