Cloud-based mobile rewards platform provider, Perk.com, recently announced the takeover of SuperRewards, the alternative payments and rewards solution and performance advertising platform provider. SuperRewards helps developers to engage new audiences and drive monetisation.
Perk.com takes over SuperRewards
SuperRewards, founded in 2007, delivers targeted ad offers and direct payment methods through its Offer Wall. When a user completes an offer s/he earns virtual currency. Offers include such actions as filling out surveys, watching video and subscribing to online services. Developer performance metrics range 10-100 times higher than other ads.
As part of the deal, SuperRewards Co-Founders Jeff Magnusson and Lyal Avery join Perk.com.
Jeff Magnusson, Co-CEO of SuperRewards, says:
“Since 2011, Lyal and I have worked together focusing on driving growth and revenue for social and mobile game studios and with SuperRewards, we have been able to establish it as a leader in game growth and monetization. By partnering with Perk, we are able to further that mission and have a competitive advantage over any individually focused rewards platform or alternative payment provider. We are excited to be a part of a leading mobile rewards platform and look forward to a long successful partnership.”
Perk issued 455,000 common shares and paid $350,000 under the terms of the deal. Another 320,000 Perk common shares may be issued depending on performance based targets being met in the first 12 months. SuperRewards revenues stood at $8.4m for the 12 months ending September 2015.
Ted Hastings, CEO, Perk, says:
“We are pleased to complete the acquisition of SuperRewards, which will expand our rewards platform beyond Perk Points to include alternative payments and virtual rewards. SuperRewards was built with the same assumption as Perk, that users want to pay for digital goods with their time and attention as their primary currency. SuperRewards has a customer base that includes over 2,000 developers and has helped to drive growth for the world’s top game and app publishers while hosting hundreds of millions of user interactions each month. We are pleased that industry veterans Jeff and Lyal will be joining our team, as we are confident that their knowledge and expertise will add value and fuel growth over the long-term.”
The deal follows Perk.com’s partnership with NBCUniversal’s Esquire Network to promote its first scripted series “Spotless”.