Launched in 2009, mobile advertising display marketplace Adfonic has already won contracts such as Tesco, Google, Groupon and Peugeot. SmallBusiness.co.uk talks to CEO Victor Malachard.
Launched in 2009, mobile advertising display marketplace Adfonic has already won contracts such as Tesco, Google, Groupon and Peugeot and turns over more than £10 million. SmallBusiness.co.uk talks to CEO Victor Malachard.
How does the company work?
Adfonic connects advertisers who are looking to run mobile advertising campaigns with mobile website publishers and app developers who want to run display ads within their mobile properties. We enable advertisers to bid for display advertising space on mobile sites and apps to reach and engage with their audiences. Publishers are able to monetise their mobile traffic and maximise their earning potential with mobile ad campaigns from global brands. We make money by sharing advertising revenue with the publishers; 60 per cent for the publisher and 40 for us.
Why did you start up in this sector?
The industry is forecast by analyst Gartner to grow from $3 billion today to $20 by 2015, largely because we are all spending larger amounts of time accessing the internet from our smartphones and that is driving more ad funded mobile apps and websites. Adfonic is the technical bridge between brands and mobile publishers and app developers, serving the right ad to the right consumer.
How was it financed and marketed?
Initially it was private money, but in November 2009 we raised a round of angel funding of several million. In terms of marketing, first of all we approached the media buying agencies that were looking at the mobile space. We sought out the media clients who were looking to buy inventory and target audiences through the mobile medium. Slowly the network was built up and we now have more than 10,000 publishers.
What’s next for Adfonic?
We have already grown from an original team of three to a 40-strong global organisation with offices in London, New York, Paris and Seville. We’ll be opening several new offices across Europe, North America and Asia-Pacific by the end of 2011 and will be making 60 new hires across our advertising operations as well as continue to invest in product development.
See also: eBay opens up global marketplace