Offerpal Media, a developer of virtual currency payment alternatives, announced it has acquired Tapjoy, creators of the Tapjoy platform for mobile developers and a provider of monetization and distribution services on the iPhone, Android, and other emerging mobile platforms. With the acquisition, Offerpal hopes to expand into the mobile market by extending the company's virtual currency monetization model to mobile applications.
The Tapjoy platform includes a turnkey software library that enables mobile developers to embed fully functional virtual goods storefronts with the ability to process microtransactions. The library also comes with a built-in Pay-Per-Install user acquisition program, an ad optimization layer, and application analytics. As part of the agreement, the co-founders of Tapjoy will join Offerpal in leadership positions to help expand its mobile business. Financial terms of the acquisition were not disclosed.