LoopMe is a leading player in the world of mobile advertising inbox, making web advertisements more social and valuable. Advertisers on the other hand get best results through enhanced customer engagement actions. LoopMe is a boon in disguise to mobile app consumers who are more interested in browsing through the ad-inbox solution.
Startups.fm spoke to Stephen Upstone, CEO and Founder on LoopMe’s success story. LoopMe recently bagged in $500K of seed investment from Russel Buckley, the Ex-AdMob MD. Other notable investors who joined the league were John Taysom from Reuters Venture Capital, Torben Maajaard founder of Ciklum and AdQuota and Peter Barry, the founder of Vodafone Ventures.
Tete`-a-tete with Stephen Upstone
Tell us the story behind LoopMe. How did it start and when?
It started back in late 2011. I had left Velti after being part of the team to go to New York to ring the opening bell on a successful NASDAQ IPO which reach over $1bn in market capitalisation. I was thinking about mobile advertising and how it could be improved for the consumer from a user experience point of view and also how we could make mobile advertising more social accessing the power of advocacy and endorsement being what we thought would become the most important pillar of the big data story over the next 10 years. This started with Marco, the CTO. Marco and I have worked together for the last 7 years in mobile advertising at AdInfuse and Velti. He is the best technical guy that I know and I am thrilled that he moved to London from Silicon Valley as my Co-Founder.
How was the traction of LoopMe when it officially launched in 2012?
We differentiated by offering a consumer centric mobile ads solution that gives a better customer experience and creates a significant new revenue stream for publishers. It is simple to add to mobile apps or website and does not affect any of the other mobile advertising relationships that are in place. We have a global footprint for advertisers and are fortunate to be working with a large number publishers in US, Europe and Asia. We are seeing exponential growth in new clients and from the traffic on our existing clients.
Why do you think the “Ad-inbox” works?
Advertisers get interactions from consumers that have 5 minutes to kill and are genuinely interested in finding new apps to download, branded content to engage with or offers to take up. This means that we see 10x greater interaction rates compared to normal mobile ads and that the actions that are taken are more likely to lead to more valuable and loyal customers.