With the acquisition of Pocket Money, Adways has also announced the launch of a subsidiary in India, with Yu Ishida as its Country Manager
Japanese mobile marketing company Adways Inc has acquired Pocket Money, a rewards-for-engagement platform, owned and operated by Mumbai-based video mobile advertising company Pokkt, for an undisclosed sum.
The acquisition follows the launch of the company’s subsidiary, Adways Innovations India, with Yu Ishida as its Country Manager.
Pocket Money is a reward-based ad platform that helps app developers acquire and engage customers in a targeted way. It brings together a rewards-for-engagement platform with the best in-line offers and value exchange in return for a multitude of redemption options.
The company claims to have over 6 million users in India.
Rohit Sharma, Founder and CEO of Pokkt, said, “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 and Southeast Asia. Adways is a large global performance ad company and the right partner to scale the Pocket Money business significantly in India.”
“India is one of the largest smartphone using markets in the world. With more number of smartphone owners, the advertising is also moving from passive attention seeking to engagement driven exercise. Pocket Money is one of India’s leading incentivising apps. Launching Adways India and acquiring Pocket Money is another step towards consolidating our foothold in the Asian market,” said Ishida.
Pokkt is a mobile video advertising platform in India and SEA with a strong focus on rewarded video ads within mobile games. Pokkt is integrated with over 300 top games and app developers in India and Southeast Asia. By Integrating Pokky SDK, developers in the region can monetise their non-paying users.
Pokkt claims to have a reach of over 100 million unique users in the region.
According to a report by Counterpoint Research, India has become the second-largest smartphone market in terms of active unique smartphone users with 220 million users, surpassing the US, followed by China, and expected to reach 700 million by 2020. Mobile advertising market has also grown by 200 per cent every year since 2013 in proportion to the growth of smartphone penetration.
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Japanese mobile marketing company Adways has acquired Pocket Money, a rewards-for-engagement platform, Pokkt