World’s largest mobile lockscreen media platform Buzzvil announced it has acquired India and Pakistan’s leading lockscreen content curator SlideApp as part of its effort to tighten its grip in the global mobile ads market. Financial terms are not disclosed.
John Lee, CEO of Buzzvil, said, “By taking SlideApp under our wings, Buzzvil is able to invite excellent developers and continues to scale its geographic reach not only in the Asian, European and the U.S. market, but also India, Pakistan and the Middle Eastern region.”
SlideApp made a grand entrance in India, Pakistan and the Middle East by hitting more than five million downloads in just 12 months of its launch in 2016. The app allows users to get rewards for reading content on the mobile lockscreen, a cost-efficient marketing tool for businesses.
The SlideApp team members also have a history of exiting their previous company, Ultra Caption Corp., in 2014 to Kakao, the operator of South Korea’s dominant mobile messenger KakaoTalk, which acknowledged their technical achievements and skills. At Ultra Caption Corp., the team members had launched a slew of applications including a dating app translated as “I Want to Meet Your Friend, Not You” which reached more than a whopping 1.4 million downloads.
“The SlideApp’s team compact with global experience will join Buzzvil, further propelling the company’s drive to move mobile lockscreen advertising forward and shape the mobile advertising landscape worldwide,” John said.
The deal is Buzzvil’s second M&A since the acquiring of New York City based startup Slidejoy, which rewards users for putting news and advertising on their mobile lockscreens, in 2017. Slidejoy offers mobile users to earn rewards in exchange for allowing ads on their lockscreen.
Buzzvil, backed by Softbank Ventures, focuses on its B2B business, BuzzScreen, based on its internationally patented SDK (Software Development Kit) which provides white label lockscreen mobile application for publishers so they can generate additional revenue and enhance user engagement.
The company earns 5.4 billion monthly impressions from 30 countries, having more than 50 publishing partners. Its main advertisers include eBay, Samsung, Adidas, Toyota, Jaguar and BMW.