In a move to broaden its appeal to advertisers, Offerpal Media is expanding into the ad network business.
Today, Offerpal’s main business is running offers, which are special ads in social apps where a user can opt to accept an offer — such as signing up for a Netflix subscription — in lieu of paying for a virtual good in a game with a credit card. Lots of major brands and ad agencies work with the Fremont, Calif.-based company on the offer business. Offerpal expanded into mobile monetization, and now it is adding a display ad network business.
Mihir Shah, chief revenue officer at Offerpal, said in an interview that the company is adding the new business to create a more complete service for ad agencies and major brands.The ad network helps those advertisers get greater reach by letting them run a different kind of ad for Offerpal’s existing network, which reaches more than 225 million users across 2,000 social web sites and apps.
In doing so, Shah said the company can be more like a one-stop shop for advertisers trying to target social app audiences. Hence, the company is competing with AdKnowledge, which, through its Super Rewards acquisition last year, also has both ad network and offer businesses under one roof. Offerpal is also competing with RockYou, which is an interesting coincidence since Shah was recently a top executive at RockYou.
The company launched the display ad network in Fish World, a social game with 4 million users. Erik Hedges, head of Tall Tree Games (creator of Fish World), said that his company is excited to have one more option for monetizing games from a company that he already works with.Game developers and publishers can use the new ad network to monetize all of their users, not just the ones that accept offers.