Deal creates new opportunities for social and mobile app developers
SAN FRANCISCO – April 8, 2013 – Adknowledge announced today that it has acquired Montipay, Inc., doing business as SocialWeekend Labs, which operates a portfolio of popular Facebook and mobile apps and has built robust tools to help app developers acquire, engage and retain users.
SocialWeekend Labs is attractive for both its technology, which helps developers easily add powerful Facebook and mobile marketing features to their apps, and its incredible roster of talent. The company has one of the industry’s most experienced social media user acquisition teams, which has helped build some of the largest social applications and networks in the world, including Hi5.
“SocialWeekend has a first-class team of engineers with proven user acquisition expertise,” said Ryan Stephens, general manager of Adknowledge’s Apps business. “They can help us take our already-robust marketing suite for app developers to an entirely new level.”
The companies seek to combine SocialWeekend Labs’ app promotion technologies with Adknowledge’s capabilities in ad monetization and paid user acquisition to build a revolutionary toolset for app developers to grow their audiences and maximize revenue. Adknowledge, the only company Facebook has designated as both an Ad Provider and Strategic Preferred Marketing Developer via its AdParlor unit, is eager to offer additional tools that leverage the Facebook platform for app developers.
“Our companies together possess an unrivaled set of tools for Facebook and mobile app developers to maximize revenue and acquire more users cost-effectively,” said Shane Walker, founder of SocialWeekend Labs. “We’re really excited about the combination.”
SocialWeekend, which was founded by Shane Walker, Andrew Tso and Fariz Chowdhury, was backed by Great Oaks Venture Capital, Brad Harrison Ventures, and a number of prominent angel investors. The entire SocialWeekend team, already based in San Francisco, will join Adknowledge’s office there.
About Adknowledge
Adknowledge is a leading online network that offers unique ad formats, data analysis, targeting algorithms, and creative approaches, providing advertisers with quality leads from hard-to-reach places on the Web across multiple channels, including social networks, display, games, mobile, apps, and email. With hundreds of employees located throughout North America, plus growing offices in Europe and Asia, Adknowledge aims to set the standard in optimizing online advertiser ROI. For more information on Adknowledge, visit www.adknowledge.com.
