Victoria, BC (PRWEB) October 25, 2014
Pretio Interactive, an advertising technology startup that allows brands such as Target and Live Nation to place rewards inside apps and games, has acquired Tap for Tap, a mobile ad network of 18,000 apps founded by veteran entrepreneur and investor, Todd Dunlop.
Pretio will continue to operate Tap for Tap’s monetization and tap exchange platform, while integrating new features for brand advertisers, developers and networks using Pretio’s technology. According to Pretio CEO Jim Hayhurst, the companies’ offerings and audiences are complementary.
“Todd and his team built a great product with a following amongst game and app developers around the world,” said Pretio CEO Jim Hayhurst. “Tap for Tap is a great fit for Pretio’s current brand and ad network partners who want deeper penetration into the mobile app space using rewards.”
Tap for Tap founder Dunlop is a serial entrepreneur who sold performance marketing shop Neverblue in 2007. His decision to sell this time to Pretio came after other offers from US-based firms.
“It was great to realize that Pretio had both a good fit and a competitive offer as a local company,” said Dunlop. “The fact that their team will continue to leverage Tap for Tap in a direction that I wholly support was also important.”
According to research firm eMarketer, spending on mobile advertising will rise 83% to nearly $18 billion in 2014. While the majority of in-app advertising is still for other mobile apps, brands increasingly view the space as an important way to reach consumers who, based on recent data from Nielson, are spending an average of 30+ hours per month interacting with apps.
“The addition of Tap for Tap gives Pretio a unique opportunity to leverage the robust user acquisition market for apps,” said Hayhurst, “as well as new audiences for brands who want to engage those consumers with rewards.”
The acquisition terms were not released. However, it included both a cash and equity component which will result in Dunlop becoming a shareholder in Pretio. Tap for Tap will operate out of Pretio’s Victoria, BC offices.
About Pretio Interactive
Pretio connects brands to over 300M consumers worldwide in social games and apps. Offers, discounts and coupons are served as non-incentivized native ad units during in-app achievement moments when consumers are the most engaged and open to brand messaging. Pretio works with advertisers including Target, Live Nation, Dunkin’ Donuts, Audible/Amazon, and The Honest Company. The company is backed by Sir Terry Matthews’ private technology investment firm Wesley Clover International and Canadian VC Yaletown Venture Partners.
About Tap for Tap
Tap for Tap was created to help app developers solve their two biggest challenges: Getting users and making money. The company’s network allows app developers to cross-promote their app by exchanging ad placements within other apps in the network. Tap for Tap was founded by Todd Dunlop, a Canadian technology entrepreneur and investor.