SOURCE: Offerpal

Offerpal

June 09, 2009 08:00 ET

Offerpal Media Partners With IMVU to Monetize Virtual Currency and Enrich the User Experience

Avatar-Based Social Network and Virtual World Integrates Offerpal Media's "Managed Offer Platform" Enabling Users to Earn Digital Credits for Free

FREMONT, CA--(Marketwire - June 9, 2009) - Offerpal Media, the leader in advertising and monetization on social networks and applications, online games, virtual worlds, mobile apps and other online communities, today announced a partnership with IMVU, an avatar-based social network and virtual world with more than 35 million registered users and 5 million unique visitors per month. The two companies are working together to allow IMVU users to earn free digital credits for participating in any of Offerpal's 2,500+ scientifically targeted and relevant advertising offers, including free trials, big-brand discounts, online surveys and more.

"We implemented Offerpal to further monetize our user base," said Kevin Dasch, IMVU's vice president of finance and business development. "This platform provides yet another way for our loyal members to obtain IMVU credits, our virtual currency."

Offerpal Media's platform monetizes social traffic by enabling users to earn points or other types of virtual currencies in exchange for taking part in advertising offers. The virtual currencies earned for free can then be redeemed for in-game goods and services, thereby enriching the social experience and deepening user engagement. Offerpal has already helped hundreds of its publishing partners earn an average of $75 per day for every 1,000 Daily Active Users to their application -- with eCPMs in the range of $150 - 200, often higher. In turn, advertisers are able to tap into Offerpal Media's expansive network of 50 million active and engaged social networking users.

Since launching in 2004, IMVU has grown into one of the largest avatar-based social networks and virtual worlds. The online destination combines an expressive 3D environment where people meet and socialize with one another, within a thriving digital goods economy. IMVU has the world's largest digital goods catalog, with over 2 million items developed by more than 100,000 registered developers.

"The social networking and virtual world space continues to grow at an exponential pace, and Offerpal is committed to providing highly effective monetization solutions for fast moving companies like IMVU," said Offerpal Media Founder and CEO Anu Shukla. "The appeal of IMVU's exceptionally unique experience is a testament to the innovative nature of the company, and accounts for their very large and growing community of members. We are looking forward to helping IMVU continue to mold the future of online entertainment."

About IMVU

Founded in 2004, IMVU Inc. (www.imvu.com) is an avatar-based social network and virtual world where people meet and interact in 3D. IMVU was named to the OnHollywood 100 List in 2009, won the 2008 Virtual Worlds Innovation Award and was also named a Rising Star in the 2008 Silicon Valley Technology Fast 50 program. The company has already reached major milestones, including 35 million registered users, 100,000 registered developers and over $1 million in revenue each month. Members of IMVU have fun meeting new people with similar interests and expressing themselves through personalizing their 3D avatars, digital rooms, music and home pages. IMVU offers the world's largest digital goods catalog with over 2 million items. Over 90 percent of IMVU's revenue is from the direct sale of virtual credits, used to purchase digital products. IMVU is backed by top venture investors Best Buy Capital, Menlo Ventures, Allegis Capital and Bridgescale Partners and is located in Palo Alto, CA.

About Offerpal Media

Offerpal Media is the first "Managed Offer Platform" for social applications, online communities, social games, virtual worlds and the Apple iPhone. The company's turnkey platform allows publishers to monetize their traffic through targeted and relevant advertising offers, generating publisher revenues at a network-wide average of $75 per day for every 1,000 Daily Active Users. Advertisers can tap into Offerpal Media's expansive network to reach more than 50 million highly engaged and targeted consumers. Based in Fremont, CA, and backed by top-tier venture capital firms, Offerpal Media features an experienced management team with deep roots in online advertising, personalization, and optimization technologies. For more information, visit www.offerpalmedia.com.

Contact Information

  • Contact Information
    Jason Throckmorton or Rachel Levine
    LaunchSquad
    415.625.8555
    Offerpal(at)launchsquad(dot)com

    Michael Volpatt for IMVU
    Larkin/Volpatt
    415-994-8864
    Michael@larkinvolpatt.com