Processing .....please wait.. 
The article has been forwarded.... 
Mihir Shah led Tapjoy raises $21 Million
By siliconindia
San Francisco: In March, Offerpal scraped its earlier controversial ways of playing in the field of virtual currency and as they acquired Tapjoy, they readily switched to the application mode thereby providing monetization, distribution services for social and mobile apps. In October, they rechristened themselves as Tapjoy and now in January, they have roped in their second round of funding of $21 million.
"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. 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," said Mihir Shah, President and CEO of Tapjoy.
The round brings the company's total funding to over $40 million. The new capital will be used to gain a strong foothold 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. It has a cross-platform viral notification channel called Social K-Factor, formerly known as SocialKast, Appstrip cross-app promotion bar and its pay per install ad network on iPhone and Android. The company is best known for its offerwall and its distribution network on iPhone which lets app developers quickly gain downloads through incentivized offers. Derek van Vliet, Director at Get Set Games said, "We added TapJoy's virtual currency support over the course of a weekend; it was that easy. When the update was released, our average revenue per daily user (ARPDAU) immediately tripled." The company will also use the funds to further invest in application media licensing and incubation opportunities.
