WPP Makes Strategic Investment in JumpTap, Leaders in Mobile Search and Advertising
LONDON and CAMBRIDGE, Mass.--(BUSINESS WIRE)--JumpTap, Inc., leaders in mobile search and advertising, today announces a new strategic investment from WPP (NASDAQ:WPPGY), one of the world's leading communications services groups. The investment by WPP recognizes the potential for reaching consumers through mobile devices by marketers and the leading role that JumpTap plays in this emerging medium.
This investment will provide clients of WPP companies, collectively one of the world’s largest buyers of media, with access to mobile search and advertising solutions.
JumpTap's president and CEO, Dan Olschwang, said: “Our mobile operator customers will have more than 250 million searches per month by the end of 2007. In order to help mobile operators capture value from this strategic asset, we have developed a strategy to attract advertisers and maximize profit, while helping them build and protect search traffic. In essence, our mission is to help advertisers and mobile operators build a thriving marketing ecosystem where people on the go can find exactly what they want."
Commenting on the investment, Mark Read, CEO of WPP Digital, an initiative within WPP to develop the Group's digital offering, said: "Our clients want to understand how to use mobile devices as an effective channel to reach and communicate with customers. We are excited to work with JumpTap in developing and bringing to market these latest marketing techniques and technologies. JumpTap's business model helps mobile operators gain greater value from mobile search and advertising, and its products will help advertisers target mobile customers effectively."
Through this partnership, both parties will also partner to develop new techniques to target and profile customers via the mobile phone. The partnership will also focus on developing case studies with strong brands who want to market to the mobile user.
Since its founding in 2004, JumpTap has rapidly established itself as a leader in the burgeoning mobile search and advertising market. JumpTap’s suite of products and services, which includes its recently announced Advertising Suite and Mobile Search Index, offers advertisers multiple ways to reach their customers and provides mobile operators with one of the industry’s most complete mobile search and advertising ecosystems.
Mobile operators throughout North American and Europe are recognizing the benefits of JumpTap’s white label mobile search and advertising solutions. JumpTap currently works with eight mobile operators in the U.S. and Europe, as well as advertising networks and vertical content providers, to roll-out these services to mobile subscribers.
WPP joins JumpTap’s existing investors, including General Catalyst, Redpoint Ventures, BCE Capital and Valhalla Partners.
About JumpTap, Inc.
JumpTap, Inc. provides a mobile search and advertising solution that drives third-party revenue for mobile operators while providing a quick, easy and fun mobile search experience for subscribers. JumpTap’s solution helps mobile operators build search and browsing traffic, attract advertisers to their network and maximize ROI via profiles and behavioral targeting. JumpTap combines structured and unstructured content to drive better coverage and improve the user experience. JumpTap provides mobile operators, advertisers and subscribers with the industry’s most complete, easy-to-use and rewarding mobile search and advertising environment. For more information on JumpTap, please visit: http://www.jumptap.com.