Social and mobile applications are where the money is at, and Tapjoy is feeling the love.
The provider of monetization, distribution and publishing services for social and mobile applications announced it received $21 million in financing (bringing the company’s total funding to over $40 million), and giving further validity to the claim that social and mobile are here to stay.
According to the announcement, the new capital will be used to "further solidify Tapjoy’s leadership in application distribution and monetization on the iOS, Android and Facebook platforms as well as to fund growth across emerging application ecosystems domestically and internationally. Tapjoy will also use the funds to further invest in application media licensing and incubation opportunities."
Tapjoy's highly touted distribution services include the cross-platform viral notification channel Social K-Factor (formally called SocialKast), the cross-app promotion bar AppStrip, and the industry’s most powerful and cost-effective Pay-Per-Install advertising network. 5,000 app developers and advertisers currently partner with Tapjoy for monetization and distribution of their games and applications.
“This is a very exciting time to be an application developer, with opportunities that span across platforms and regions. We are thrilled to support application entrepreneurs with our industry leading infrastructure, monetization and distribution IP and services,” said Mihir Shah, president and CEO of Tapjoy. “We also look forward to continuing our strong and dedicated working relationships with Apple, Facebook, Google, Yahoo and the other social and mobile platforms we invest in and support.”