Contact Information: Contact Information Jason Throckmorton or Rachel Levine LaunchSquad 415.625.8555 Offerpal(at)launchsquad(dot)com
Offerpal Media Surpasses 100 Million User Accounts
Industry-First Milestone Demonstrates Rapid Growth for the Company and High Consumer Enthusiasm for Virtual Economies
| Source: Offerpal
SEATTLE, WA--(Marketwire - July 22, 2009) - 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.