AdKnowledge gobbles up more social media
ADOTAS — The advertising network has acquired KITN Media, owner of Super Rewards, a virtual currency monetization platform for online games and social network applications.
Terms were not disclosed. (Venture Beat pegs the deal at $30 million although Adknowledge claims that it is inaccurate.) The acquisition combines the offer-based Super Rewards platform with the technology expertise, financial strength, and international presence of Adknowledge to create a full suite of social advertising solutions for developers and advertisers.
According to Scott Lynn, CEO of AdKnowledge and Brett Brewer, President, virtual currency will change the social web. What contextual advertising was to the web, virtual currency will be to the social web, they said. It is the first tool that connects consumers with advertisers by offering consumers the ability to earn currency by trying advertisers’ products. Rather than seeing thousands of irrelevant ads through social networks, consumers can now sign-up for a few offers, on a trial basis, that they find interesting, the two added.
AdKnowledge has been on a buying spree over the last two years. They previously bought MIVA, Cubics, Lookery, Mediarun, and Adonomics, with five of the last six acquisitions the company has completed in the social advertising space. The company still might be in the buying mood, “we are always looking for more ways to grow our business organically and inorganically.”
The company says the acquisition solidifies its position as the largest independent cost-per-click ad network focused on high-quality alternatives to search engine advertising. Adknowledge states that it remains the leading choice outside of Google and Yahoo for advertisers looking to bid on ad space in Email, Social, and Display mediums.
Reader Comments.
What a waste of money. The traffic quality on my trial offers from KITN is crap and we pulled our campaigns months ago.
What a total waste. SuperRewards isnt sustainable, that said, congrats SuperRewards team for fooling AdKnowledge 100%
Seems like Adknowledge is buying more crap to add to the collection. KITN Media traffic was junk, so is Miva’s and Cubics. Never heard of the other companies
Adknowledge is garbage and I’m assuming SuperRewards is also. $30 Million my ass, they prolly paid $30 and picked up all their lawsuits. Next article on adknowledge will be “Chapter 11 filed”
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