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Mobile: Greystripe Recieves $1.2 Million Series A Funding
by Justin Davis, Modojo.com
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October 12, 2006
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Mobile in-game advertising start-up Greystripe announced today that it has recieved $1.2 million in initial, series A funding, to further develop the company's AdWRAP technology, and GameJump.com consumer portal. The funding was provided by venture firms Monitor Ventures, Incubic Venture Capital and W.S. Investments.
In our recent Q&A with GreyStripe CEO and Founder Michael Chang, he explained how the company's proprietary AdWRAP technology worked, and allowed for all the titles on their GameJump.com portal to be fully advertising subsidized:
"Greystripe sells pre and post roll full screen ads... Our full screen ads are presented at the beginning and at the end of the game session. Because of our proprietary AdWRAPing technology, which can add our advertising software to any JAVA application and game, we have the ability to insert ads anywhere into the game play. We can show ads in between levels or as interstitials.
We will do this once the game player becomes more comfortable with our ad model. We have been very careful with the gaming experience for both the consumer and for the publishers sake. The worst thing that we could do is to "interrupt" the game players experience. We believe that pre and post is a good balance for now."
The announcement stated that Greystripe will use the funds to "to increase the worldwide reach of its ad network via the GameJump.com portal and other distribution channels currently in development. The company will continue to hire key personnel in line with this growth.
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