Ahead of India launch, Adways acquires POKKT app
Adways Inc, a Japan and Southeast Asia focused mobile marketing company, has acquired POKKT’s incentivised Android app, Pocket Money. The acquisition follows the launch of the Adways Indian subsidiary – Adways Innovations India Pvt Ltd with Yu Ishida as it Country Manager.
Currently installed by over 6 million users in India, Pocket Money is a reward-based ad platform, which helps app developers to acquire and engage customers in a targeted way. It brings together a rewards-for-engagement platform with offers and value exchange in return for a multitude of redemption options.
Rohit Sharma, Founder & CEO, POKKT said, “Pocket Money today is among the top five apps in the category with huge traction. We have built Pocket Money as a successful and profitable business in less than 18 months. However we want to focus on our core business ‘POKKT Video Ads’, which is the leading mobile video ad platform for games in India & SEA. Adways is a large global performance ad company and the right partner to scale the Pocket Money Business significantly in India.”
“India is one of the largest smart phone using markets in the world. With more number of smart phone owners, the advertising is also moving from passive attention seeking to engagement driven exercise. Pocket Money is one of India’s leading incentivising app. We are excited to enter the country with such a dynamic and young team as Pocket Money. Launching Adways India and acquiring Pocket Money is another step towards consolidating our foothold in the Asian market,” said Mr Ishida.
The latest Adways acquisition and launch of its Indian subsidiary follows India’s growth potential to accelerate the adoption of mobile business. According to a report by Counterpoint Research, India has become the second-largest smartphone market in terms of active unique smartphone users with 220 million users, surpassing the US market, followed by China and expected to reach 700 million by 2020. Mobile advertising market has also grown by 200% every year since 2013 in proportion to the growth of smartphone penetration.
Adways Innovation India will be committed to help domestic and overseas app developers and publishers expand their business in the best way possible by developing its own media platform and enhancing advertising agency business. Adways Inc is a listed company in Japan.
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