Dive Brief:
- Google, AOL, and other investors have spurred a $17-million round of funding for in-app focused mobile ad-tech company Vungle.
- Vungle plans to use the funding to build a "suite of monetization tools for mobile app developers" that includes an in-app mobile video ad exchange.
- According to Vungle CEO Zain Jaffer, 80% of time spent on mobile devices is spent on apps and the company wants to be the "monetization infrastructure" apps rely on.
Dive Insight:
Google, AOL, and the other investors are clearly seeing value in mobile apps and mobile monetization strategies. The industry is exploding, but not one ad tech firm has a tight grasp on how to make serious money from it yet. Vungle could be the one to really build a valid money-making infrastructure in mobile.
