FREMONT, CA--(Marketwire - February 17, 2009) -
Offerpal
Media, the leading monetization platform for social applications,
online communities, social games, virtual worlds and mobile applications,
announced today the close of a $15 million Series B round of financing. The
new round is led by
D. E. Shaw Ventures, with
participation from existing investors
InterWest Partners and
North Bridge Venture Partners. Offerpal
will allocate the financing primarily to the growth and development of its
monetization platform and to creating more tools and services that enable
social Web publishers to convert virtual currency into real dollars.
"Offerpal Media may be the only company that has truly figured out how to
monetize social Web properties," said Michael Banks, a senior vice
president of D. E. Shaw & Co., L.P. "Offerpal's approach of blending
targeted, relevant advertising offers with virtual currency has really
caught on with publishers and advertisers alike, and with the company's
strong leadership team, sophisticated technology platform and expansive
network of publishers, we believe Offerpal is well positioned as a leader
in the space."
Recently named an
OnMedia 100 category winner, Offerpal
Media has seen significant momentum since its initial round of funding and
launch in 2007. Today, the company works with more than 800 social Web
publishers, including third-party applications on
Facebook,
MySpace,
Bebo,
hi5
and other leading social networks, as well as social gaming sites and
virtual worlds such as
WeeWorld,
Acclaim Games,
Aeria Games and many others. The
company also recently announced the availability of its "Managed Offer
Platform" for the
Apple iPhone,
providing iPhone application developers with the first viable solution for
generating significant revenues. Offerpal's average publisher payout is in
the range of $150 - 200 eCPM.
"This round of funding firmly validates our business strategy and unique
technology platform," said Anu Shukla, founder and CEO of Offerpal Media.
"We provide a simple yet incredibly successful way to generate meaningful
revenues for social publishers, while allowing advertisers to reach more
than 50 million active and engaged social networking consumers. This
capital will help us move forward in key areas of our business and further
accelerate our leadership position."
Offerpal Media's "
Managed
Offer Platform" is a full-service, turnkey advertising solution that
can be embedded into any social application or Web site simply by inserting
a snippet of code. The platform comes complete with:
-- 2,000+ advertising offers - dynamically rotated for targeting and
relevancy
-- Real-time optimization - to maximize publisher revenues and ensure
high lead quality
-- Customer support - available 24/7 to handle users' questions and issues
-- Web-based reporting - allowing publishers to track their revenues and
activities in real-time
-- Account management - personalized service to help optimize revenues from
every angle
About D. E. Shaw Ventures
D. E. Shaw Ventures is the venture capital unit of the D. E. Shaw group.
The D. E. Shaw group is a global investment and technology development firm
with more than 1,600 employees; approximately $30 billion in investment and
committed capital as of January 1, 2009; and offices in North America,
Europe, and Asia. Since its organization in 1988, the firm has earned an
international reputation for financial innovation, technological
leadership, and an extraordinarily distinguished staff.
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
Rachel Levine
LaunchSquad
415.625.8555
Offerpal@launchsquad.com