Affiliate Summit, New York, NY (PRWEB) August 13, 2012
OfferMobi, the first and leading US-based performance marketing ad network for mobile advertising campaigns has been acquired by MOKO.mobi Limited, a global Mobile Social Entertainment Platform.
The acquisition of OfferMobi will provide increased marketing and advertising synergies and allow MOKO to vertically integrate a large portion of its own 3rd party advertising program and expenditures. OfferMobi will also provide MOKO with new monetization opportunities for its own portfolio of products.
Commenting on the acquisition, MOKO’s CEO, Ian Rodwell said: “We are excited by the acquisition and the addition of Mark Roth and Jimmy Chin to our overall senior management group. Mark and Jimmy are very passionate about the scope of integration of their business with MOKO’s social products and believe in the future prospects of our combined companies, hence the significant portion of the consideration for their business being in taken as MOKO equity. We also believe that the OfferMobi team can expand our user base and therefore revenue growth opportunities”
Mark Roth, OfferMobi co-founder and CEO stated “We are thrilled to be able to make this happen and become part of the Moko team. From the very beginning of the process I have been excited about the synergies that can be realized as a result of this acquisition. The integrations that we are planning will provide benefits to both companies and help to drive the growth of MOKO as a whole. With the resources of Moko behind us, we are ready to take OfferMobi to the next level, extending further our leadership position in the mobile performance industry.”
"The sale of OfferMobi to Moko validates it's leadership position in Mobile Cost-per-Action (CPA) market. The founders, Mark Roth as CEO and Jimmy Chin as EVP have proven that mobile CPA is a profitable channel for advertisers by growing the business in excess of 100% per year profitably. The Team's efforts have made the sale of OfferMobi a successful exit for the Angel Round Capital Fund's ("ARC Fund") 2011 investment." says Joseph R. Saviano, Chairman of the Executive Committee of the ARC Fund.
Commenting on the acquisition, Howie Schwartz, OfferMobi's lead investor and former Chairman said: "When OfferMobi launched in 2010 direct response advertisers were telling us they were 'thinking' about mobile but they were not ready yet. OfferMobi successfully led and pushed the industry forward and proved the value and ROI of the mobile channel for the first time. Many of the industry's first mobile campaigns were launched and managed by OfferMobi through in-app, mobile web, and pay-per-call. This acquisition represents the next step for the mobile performance industry."
OfferMobi will continue to operate its Mobile performance network, and operations with existing advertisers and publishers will continue as before.
About MOKO.mobi Limited
MOKO.mobi is a global Mobile Social Entertainment Platform accessible from any wireless device via carrier portals, App stores, and directly via http://www.mobi.mobi. MOKO.mobi is operational in 11 countries, with 13.4 million mobile users, 435 million page impressions a month, and 30 direct carrier-billing partners. Designed from the ground-up for wireless browsing and billing, the company enables easy social entertainment discovery, offering users a choice of the type of services they wish to use, and how they wish to pay for them. The company also operates several consumer brands: MOKO Chat, mBuzzy.com, and mVibe. For more information, please visit http://mokosocialmedia.com
OfferMobi is the first US-based mobile performance network. Launched in early 2010, OfferMobi has amassed a loyal following of over 17,000 mobile publishers who are seeking performance-based revenue from advertising campaigns they can run in mobile advertising channels. The business serves as both a mobile agency and a performance-based network for advertisers who wish to leverage the mobile channel to promote their mobile enabled website, App, or click-to-call/pay-per-call campaigns and to obtain leads generated from OfferMobi's hosted mobile portals. OfferMobi works with mobile publishers to increase the revenue they earn from their mobile ad inventories on a performance basis. For more information, please visit http://offermobi.com