LoopMe signs $100 million deal to connect with world’s largest app makers
LoopMe, the London mobile advertising tech company, has signed deals with Chinese app developers Cheetah Mobile, Sungy Mobile and Baidu worth a total $100 million to supply its ad platform to them and help marketers grow the impact of in-app ads. According to the firm, the deals are set to generate $100 million in revenue this year.
LoopMe offers a mobile video platform that includes native mobile video to seamlessly embed video ads into apps. The company says that native advertising offers greater reward with conversion rates of up to 100% above those of static banners.
Stephen Upstone, CEO, LoopMe, says:
“This is a major milestone for the mobile advertising industry. LoopMe’s vision is that mobile video becomes ubiquitous with native, full screen and pre-roll video ads bought programmatically. With this vision, the largest reach of global consumers, the most advanced data targeting and machine learning based optimisation become increasingly critical to advertiser success.”
Further, Upstone expects China to become a major player for the company’s key markets. Recent findings by the IAB show that mobile video ad spending increased by 142% in the UK over the past year, slowly taking over the place of static ads on mobile and making it a prominent market for advertisers to tap into.
The deal allows the company access to apps with over 10 billion global downloads. LoopMe already works with Facebook, Google, Outfit7 and Microsoft globally. With large inventory in web and mobile, Upstone says the market is to catch up to the $200 billion global TV advertising industry.
You can watch a recent interview between Upstone and PocketGamer on the future of mobile marketing below.
LoopMe CEO Stephen Upstone on the rise of mobile video advertising