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Offerpal Media Surpasses 100 Million User AccountsIndustry-First Milestone Demonstrates Rapid Growth for the Company and High Consumer Enthusiasm for Virtual Economies (July 22, 2009)
SEATTLE, WA -- (Marketwire) -- 07/22/09 -- Casual Connect Conference - Offerpal Media, the leading virtual currency monetization platform for social applications, online games, virtual worlds, social networks, mobile applications and other social gaming publishers, today announced at the Casual Connect conference in Seattle, WA, that it has surpassed 100 million unique user accounts in its database, representing more than 250 million total transactions. The milestone speaks to the tremendous growth of the social gaming industry and demonstrates the high consumer enthusiasm for taking part in virtual economies inside these social applications and gaming web sites.
"Since our launch in September 2007, we have experienced growth at a nearly unprecedented rate," said Offerpal Media Founder and CEO, Anu Shukla. "We're particularly proud of this latest milestone because it shows that we have delivered on our long-term vision of monetizing the social Web."
Offerpal Media was founded as the first offer-based payment solution for social applications on the Facebook platform. The company has since expanded to integrate with hundreds of applications across dozens of other top-tier social networks including MySpace, Bebo, hi5, Tagged and many more, as well as destination gaming, social networking and virtual world sites such as IMVU, Aeria Games, WeeWorld and others. The company has also aggregated several of the most popular direct payment options such as credit cards, PayPal, mobile payments and micro-transaction providers to deliver a full-service virtual currency payment platform.
The company has continued to expand in other ways as well. Through its OfferpalINSIGHT package, for instance, publishers and application developers can gain actionable insights into the dials and levers that drive the monetization of their virtual economies. Its partnership with mobile SDK provider Tapjoy, allows mobile developers to easily plug Offerpal's payment platform into their iPhone applications. Most recently, the company added OfferpalSECURE to its suite of monetization services as a means to reduce the lost revenues resulting from fraudulent user activity.
In February of this year, Offerpal received $15 million in Series B venture capital funding from D. E. Shaw Ventures, InterWest Partners and North Bridge Venture Partners. Although profitable since shortly after its launch, the company has used the additional funding to more rapidly extend its product offerings and expand into new markets.
Doug Pepper, General Partner, InterWest Partners, said, "InterWest invested in Offerpal because we believe they have the vision to build a large, sustainable company with differentiated products to tap into the fast growing social and gaming markets."
About Offerpal Media
Offerpal Media was the first payment platform to monetize social applications, online games, virtual worlds, social networks, mobile applications and other social gaming publishers by providing end-users with a comprehensive set of virtual currency payment options, including direct payments such as PayPal, credit card, micro-transactions and mobile payments, as well as advertising offers such as free trials, big-brand discounts, online surveys and more as an alternate payment method. The company's turn key monetization platform uses a sophisticated optimization engine and proprietary algorithms to generate publisher revenues at a network-wide average of $80 per day for every 1,000 Daily Active Users. The platform also allows advertisers to tap into Offerpal Media's network of more than 100 million highly engaged and targeted consumers to generate high-value new customers. For more information, visit www.offerpalmedia.com.
Jason Throckmorton or Rachel Levine
Copyright @ Marketwire
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