Tapjoy raises $30 Million from J.P. Morgan
Printer Print Email Email
Tapjoy raises $30 Million from J.P. Morgan
Santa Clara: California-based Tapjoy, monetization and distribution services for social and mobile gaming applications, has raised $30 million in the fourth round of funding for its app marketing and monetization business. The deal was led by J.P. Morgan and all the existing investors participated in the funding. Founded in 2007, Tapjoy monetizes and distributes services for social and mobile gaming applications, MMOs, Virtual worlds, social platforms and other publishers selling virtual goods or premium digital assets. Their alternative platform solutions enable developers to increase payment conversions and generate incremental revenue, while their corss-platform distribution channel delivers cost-effective user acquisition and re-engagement services across iOS, Android, Yahoo!, Google, Windows Live and other leading web sites and containers. The company management team is led by seasoned Internet, gaming and advertising industry executives. Top-tier venture capital firms InterWest Partners, North Bridge Venture Partners, Rho Ventures and D.E. Shaw Ventures back them. They are headquartered in San Francisco and have an office in London. Mihir Shah, CEO, Tapjoy, said that they have a profitable business but it wants to increase the investment on a variety of levels. They have a strong presence across portfolio of businesses that market apps on mobile platforms and the web, he said. Besides Apple, they have invested largely in the Android, Windows Phone & and HTML5 markets. They are also focusing on other platforms by launching a $5 million Android developer fund. They have earlier raised $21 million in January and $71 million since 2007. Prior to Janurary, they had raised $51 million. The company currently have 10,000 app developers with about 20-30 million unique mobile users a day. With an extensive background in social media/social apps, consumer behavior, advertising, direct marketing and new media as well as in scaling growth-stage companies, Mihir Shah previously had worked as VP and GM for Direct Selling Solutions at QuinStreet. He was also the founder at cookeatshare.com and VP and GM of AD Network for RockYou. He is a graduate from Stanford University.

Digital Supply Chain Transformation – Winning the AI/ML Way