Adways acquires rewarded advertising app Pocket Money from POKKT
POKKT, the rewarded video ad platform for India and South East Asia, announced that its Pocket Money Android app, has been acquired by Japanese mobile marketing firm Adways Inc. The move follows the launch of Adways Indian subsidiary Adways Innovations Indoa Pvt Ltd.
Pocket Money is a user app that offers real rewards
The Pocket Money app has been installed by over 6m Indian mobile phone users. Developers can feature adverts which consumers engage with in exchange for rewards.
Based on a solid ad serving platform with attribution, big data features and an analytics infrastructure, Pocket Money adds value to advertising.
Rohit Sharma, Founder & CEO, POKKT, said:
“Pocket Money today is amongst the top 5 Apps in the category with huge traction. We have built Pocket Money as a successful and profitable business in less than 18 months. However we want to focus on our core business POKKT Video Ads, which is the leading Mobile Video Ad Platform for Games in India & SEA. Adways is a large Global performance Ad Company and the right partner to scale the Pocket Money Business significantly in India.”
Adways, which provides a range of advertising solutions such as ad network AppDriver and tracking analytics PartyTrack, notes that India has strong potential for growth when it comes to the mobile business. In fact, India is now the second-largest smartphone market in terms of unique active smartphone users, just behind China and expected to grow to 700m by 2020. Since 2013, its mobile ad market has grown by 200% each year, finds Counterpoint Research.
In India, Adways aims to grow its app advertising business for developers and publishers.
Yu Ishida, Country Manager, Adways India, explains:
“India is one of the largest smart phone using markets in the world. With more number of smart phone owners, the advertising is also moving from passive attention seeking to engagement driven exercise. Pocket Money is one of India’s leading incentivizing app. We are excited to enter the country with such a dynamic and young team as Pocket Money. Launching Adways India and acquiring Pocket Money is another step towards consolidating our foothold in the Asian market.”