|Page (1) of 1 - 02/17/09||email article||print page|
Offerpal Media Secures $15 Million in Financing to Drive Growth and Continued Innovation in Monetizing the Social WebCapital Infusion Led by D. E. Shaw Ventures With InterWest Partners and North Bridge Venture Partners (February 17, 2009)
FREMONT, CA -- (Marketwire) -- 02/17/09 -- 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.
Copyright @ Marketwire
Related Keywords: Offerpal, Facebook, MySpace, social ads, virtual currency, in game advertising, Silicon Valley, Sales, Applications, Advertising, Networking, Internet, Internet Server Applications, Management, CEO/CFO, Business, Marketwire, Apple Computer, Financial, Internet Technology, Business, Social Networking, Other,