Velti Unveils New Mobile Ad Marketplace
Mobile ad network Velti has launched a new mobile media marketplace offering publishers, advertisers and ad networks the ability to participate in both public and private ad exchanges. The move builds on Velti's acquisition of in-app mobile ad exchange Mobclix last year and its investment in China-based mobile ad exchange Casee.
The new mGage Marketplace promises to streamline the process of buying and selling mobile advertising by providing access to ad exchanges and campaign-building tools in a single dashboard for agencies, ad networks and brands. The system allows users to plan, optimize and track campaigns across different types of mobile inventory and platforms.
Powering the open exchanges within the Marketplace are Mobclix -- which places rich media ads in iPhone, Android and other apps -- and Casee, a leading mobile ad exchange focused on the China market. The public exchanges overall match ad networks and agencies with more than 15,000 application and mobile Web publishers in an auction process featuring real-time bidding.
The mGage Marketplace also encompasses white-label exchanges created by media companies and others to privately sell inventory to a limited group of agencies, ad networks and demand-side platforms and brands. Velti says it is already working with more than 100 publishers in developing private exchanges, and expects to double that total this year.
The company declined to name any publishers it's partnering with, but Draftfcb is among the initial agencies to create a white-label exchange to execute campaigns in the U.S. and China on behalf of top clients. Patrick Moorhead, Draftfcb's mobile lead, stated that the agency chose to work with Velti because of its global footprint.
Founded in Greece in 2000, Velti built its mobile ad business in Europe and Asia before expanding in the U.S. in the last three years through deals, including the acquisitions of domestic mobile firms such as Ad Infuse and Media Cannon as well as Mobclix. The U.K.-based company, which now has some 100 U.S. employees, began trading on the Nasdaq market earlier this year.
About 20% of the company's revenue comes from the U.S. market, but CEO Alex Moukas expects that proportion to ramp up in the future as Velti capitalizes on the fast-growing mobile ad market here. Moukas will ring the Nasdaq opening bell today in connection with its Jan. 28 IPO. Velti, which had 2010 revenue of $124.6 million, has already traded on the London Exchange.