08/01/2012Tapjoy and SK Planet Announce Strategic Global Partnership
San Francisco, CA — August 1st, 2012 — Tapjoy, Inc. (www.tapjoy.com), a mobile advertising and publishing platform, today announced that it has entered into a memorandum of understanding (MOU) with SK Planet, an affiliate of SK Telecom, South Korea’s largest telecommunications company, establishing a strategic alliance that will bring both companies further success in a rapidly growing mobile advertising market.
As part of the alliance, Tapjoy expects to expand its global footprint through SK Planet’s T Store, one of Korea’s leading open-market app store, which has more than 15 million subscribers and 300,000 content offerings.
The MOU also allows Korean developers to reach a broader user base overseas, thanks to Tapjoy’s global presence. As mobile ad spending is predicted to be $20.6 billion in 20151, the Tapjoy platform will serve as an effective marketing tool and a major stepping stone for developers interested in building app awareness and additional revenue streams. The two companies will also execute joint marketing promotions as part of their app development program. Select T Store apps will be given marketing funds via Tapjoy’s platform to increase their chances of global success and increased revenue performance.
“We are excited to be the first global advertising platform to collaborate with T Store,” stated Tapjoy CEO, Mihir Shah. “We expect that Tapjoy’s partnership with SK Planet will enhance the consumer experience through an increased variety of offerings and provide developers with more opportunities.”
The announcement today follows Tapjoy’s introduction earlier this year of its new Tapjoy Asia Fund, a $5 million investment, designed to encourage and support the innovation and development of mobile applications for the Android and iOS platforms for the Asia-Pacific market. As part of this MOU, a portion of the Asia Fund will be made available for T-Store developers.
“Now that more than 50 percent of the Korean population use smartphones, the mobile experience has changed, with content being shared across devices and country borders,” said John M. Park, vice president of SK Planet T Store. “We look forward to growing our consumer base on an even more global scale through this partnership.”.