Tapjoy is one of the principal firms helping developers of mobile applications promote and distribute their programs. The company has recently raised $30 million. All existing investors participated, with JP Morgan Chase leading the funding round.
Tapjoy reports that it is a profitable business and plans to use the new money for expansion. The mobile game industry is hotter than ever. Tapjoy offers incentives for users to install additional apps. This substitutes for the previous practice of paying per install. That process was banned by Apple, which considered it a way for developers to buy their way onto Apple’s top 25 rankings in the App Store.
Tapjoy also handles marketing for clients with applications operating on other mobile platforms, such as Android. The company combined with Offerpal in 2010. Since 2007, the combined entity as raised a total of $71 million to date. Tapjoy’s previous funding of $21 million occurred last January.
Apple has not relented on its ban of pay-per-install marketing. This has meant a more hit or miss strategy by developers. But it results in a vibrant development market of apps. There is no pay-per-install ban for the Android market.
Tapjoy’s 70 employees serve a clientele consisting of about 10,000 app developers with around 20 million to 30 million individual mobile users per day.