Fremont, California-based Offerpal Media, a leader in virtual currency payment alternatives, has acquired Tapjoy, Palo Alto, California-based creators of the Tapjoy platform for mobile developers and provider of monetization and distribution services on the iPhone, Android and other emerging mobile platforms.
The acquisition accelerates Offerpal’s expansion into the rapidly growing mobile market by extending the company’s virtual currency monetization model to mobile applications.
The Tapjoy platform includes a turnkey software library that enables mobile developers to embed fully functional virtual goods storefronts with the ability to process microtransactions. The library also comes with a built-in Pay-Per-Install user acquisition program, an ad optimization layer and application analytics. As part of the agreement, the co-founders of Tapjoy will join Offerpal in leadership positions to help expand its mobile business. Financial terms of the acquisition were not disclosed.
Offerpal Media’s full-service monetization platform is a hosted service empowering more than 2,000 game developers and social publishers to monetize virtual currency through alternative payment methods such as offers, surveys, videos, shopping rewards, tasks and more.
“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 George Garrick, chairman and CEO, Offerpal Media. “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. 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.”