Facebook In-App Ad Developer LifeStreet Media Secures $66M Equity Investment
LifeStreet Media, creator of the RevJet platform for in-application advertising for Facebook, Apple (iOS), and Android developers, announced a $66 million equity investment by Nautic Partners.
The company said RevJet has driven more than 200 million social and mobile app installs, paid out over $100 million of advertising revenue to developers, and reaches a monthly audience of more than 350 million.
LifeStreet added that it drives more Facebook app installs than any other ad provider besides the social network itself. And Founder and Chief Executive Officer Mitchell Weisman said two-thirds of the largest Facebook app developers have worked with the company in one way or another, whether via the publisher, the advertiser, or both.
Weisman added that RevJet is based on a technology invented by LifeStreet called universal object serving, which allows the company and its clients to achieve what it calls iterative high-velocity testing.
Universal object serving allows advertisers to run multiple tests of their ads simultaneously, to the entire user base of the app, multiple times, rather than to only a percentage of the app's users.
Advertisers can test different combinations of visual elements (the ad itself, background colors, copy) and logical elements (targeting algorithms, optimization algorithms), and Weisman said:
Cost-prohibitive becomes cost-effective. We turn app developers' ad inventory into more money. For advertisers, we de-risk the proposition, we take the risk. Testing becomes perpetual, not episodic. Testing is not based on an event.
There are many ways to look at data, all mathematically legitimate, and to determine what the revenue-producing choice is. The tests don't interfere with one another.
Nautic Partners Managing Director Bernie Buonanno added:
We rarely see companies with market opportunities as large or technologies as powerful as we see with LifeStreet. LifeStreet sits in the middle of a number of growing trends — social media, mobile devices, apps, social games, and online advertising. Given LifeStreet's proven business model and competitive advantages, we believe the company is extremely well-positioned for significant continued growth.
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