socialmedian: More 'Shakeable' Ads Coming To Your iPhone

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More 'Shakeable' Ads Coming To Your iPhone

Source: Silicon Alley Insider

May 12, 2009

Summary

Mobile ad companies seem to be split into two camps: Those serving up small versions of the Web's standard text and display ads, such as Google (GOOG), AdMob, etc., and those trying to set off in a different direction, such as NYC-based Medialets.

Medialets is looking to popularize disruptive multimedia ads that capture users' attention and fetch a premium ad rate in the $20-30 CPM (cost per 1,000 impressions) range. Over the last year, it's elbowed its way into the Apple (AAPL) iPhone app market by offering an ad network and free analytics software, which has helped it sign up more than 1,000 app publishers. Reaching 14+ million unique users since last summer, that suggests it's reached about 40% of all iPhones and iPod touches that Apple has sold.

Now Medialets has raised $4 million in Series A financing to build out its platform, from Foundry Group, DFJ Gotham, and early Google investor Bobby Yazdani. The company, led by CEO Eric Litman, has seven full-time employees (14 total).

Medialets will focus on selling technology to power multimedia ads for iPhone a

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