Tweak your mobile business model. Change your name. Easily raise $8 million in venture funding.
That’s the script followed by MobileMajority, a Los Angeles-based mobile advertising startup previously known as the dunderheaded-sounding PaeDae.
MobileMajority raised the $8 million Tuesday, and the startup is doing its best to leave the past behind.
PaeDae initially launched as a “premium” brand mobile advertising play, but chief executive Rob Emrich told VentureBeat the company is expanding its business model to accommodate the rapidly evolving mobile space.
MobileMajority heralded its re-branding efforts this way:
The Mobile Majority will now be the only mobile advertising platform that allows brands to identify and target real consumers, validate impressions, and ensure the universal delivery of any creative campaign.
Mobile Majority is not the only one, of course. But MobileMajority has moved beyond premium brand targeting to releasing what Emrich is busy hyping as its new “AdKit” and “AdScore” platforms, which will, according to the eager chief executive, change the mobile playing field for the better.
“The current way of gauging the success of mobile ads is, right now, limited to impressions and clicks. You need to measure ads as though they were software, because mobile ads are software based,” Emrich said.
Indeed, with AdKit, Emrich says his company can now validate and verify that mobile ads are being delivered where advertising and ad targeting outfits say they’re placing them for clients.
This technology is much needed and crucial for successful campaigns, as plenty of brokers are placing ads where they’re not supposed to be going– porn sites for example — or not placing your ads at all.
And with their AdScore platform, MobileMajority is adding a second layer to compliment AdKit by protecting brands from “mobile fraud, off-brand association, and partial ad visibility.”
Alas, Emrich said the focus for MobileMajority is ushering in an era of transparency that needs to become a benchmark standard in mobile.
AdScore also makes predictions on how well the ads are actually performing.
“80 percent of ads are not being displayed or viewed. Mobile is not a small desktop, and you need to make sure ads are performing like you paid for,” Emrich said.
Currently, the success or failure of mobile ads are measured by numerous attributes, including connection speeds, protocols for tracking, and propensity for fraud, which Emrich said is commonplace in the industry.
Changing your name and business is dicey at best, but Mobile Majority is convinced there’s a payoff. And they may be right. Clients like State Farm, Proctor & Gamble, and 7-11 are lining up. And there’s more on the way, according to Emrich.
In addition to its headquarters in Santa Monica, the startup has also opened offices in San Francisco and New York. To date, it has raised a total of $21 million. Its employees number 25.
“Companies are jumping into mobile and lots of them just don’t know. We’ve managed to simplify the way ads are delivered in mobile advertising,” Emrich said.
“And a premium brand,” he said, “wants to tell a good story.”