Adknowledge Buys Pangea's Quiz, Sweepstakes Biz
Pangea Media is getting out of the quiz biz -- sort of.
The company, best known for social marketing platform SnapApp, just sold its legacy Web site quiz and sweepstakes business to digital ad firm Adknowledge. Financial terms of the transaction were not released.
Now, Pangea’s plan is to devote itself entirely to SnapApp, which helps brands, publishers and agencies engage consumers by setting up their own mini-quizzes, surveys and contests.
“The sale of our Web site business allows us to focus 100% on the SnapApp platform,” said Seth Lieberman, CEO of Pangea Media.
According to Lieberman, SnapApp partners include Comcast, PBS, Remington, NPR, Simon & Schuster, Martha Stewart, Harper Collins and Intuit.
SnapApp considers its specialty to be helping publishers and brands collect digital currency, from leads, registrations, and subscriptions to Facebook “likes,” Twitter “follows” and Google +1s.
For better or worse, Lieberman considers this practice to be “the future of marketing.”
To date, the SnapApp platform has recorded over 60 million engagements in 15 languages globally, which, it reports, generated over 1 million “conversion events.”
As for Adknowledge, the agency has a history of buying small firms or assets to better position its online ad offerings.
Lieberman previously co-founded Focalex, an online ad and direct marketing firm, which was sold to Intermix (the original parent company of MySpace) in late-2004.