xAd More Than Doubles Revenue in 2013, Ends the Year on a $65M Run Rate
NEW YORK, January 28, 2014 (ADOTAS) — xAd, the only global mobile-location ad platform, today announced that it more than doubled revenue in 2013, ending the year on a $65M run rate while maintaining profitability. The company also grew its national client base by more than 300% and increased staff by 75%.
xAd’s fast-paced growth in 2013 was made possible by the company’s ongoing focus on product innovation in the mobile advertising space, and its continued development of advanced targeting technology. xAd added two industry first offerings in 2013 alone. Mid-year, xAd launched the first panel-based mobile attribution model that tracks actual in-store visitations post mobile ad exposure, providing clients a way to effectively close the loop and provide a true measurement on campaign performance and ROI. On the heels of that release, xAd launched its real-world retargeting solution, which allows for the effective retargeting of mobile users based on past visitation behaviors. xAd’s proprietary mobile-location solutions, including its SmartLocation™, SmartAudience™ and SmartFencing™, continue to outperform industry standards, enabling advertisers to achieve campaign-specific goals focused on a variety of location types and audience segments.
The company also became the first location-based ad platform to expand globally in 2013, by making its award-winning platform available in both the UK and India. The global mobile market continues to grow at a rapid pace and Gartner predicts that global mobile ad spend will reach $41.9 billion by 2017. As xAd will expand to many other key global markets in the coming years, including Canada, Germany and China in 2014, the company is well-poised to address the growing demand from major global advertisers for highly effective, location-focused mobile ad solutions.
“While most ad tech companies have tried to provide solutions for all customer needs, including video, apps and premiums, xAd has focused exclusively on mobile location advertising,” said Dipanshu ‘D’ Sharma, CEO at xAd. “This has been extremely advantageous for us as we’ve consistently generated meaningful results for our customers, enabling fast growth. We believe location advertising, which BIA Kelsey predicts will reach 52% of ad spend in mobile by 2017, is a monumental opportunity on its own. In the coming years, we’ll continue to focus on innovating and solidifying our position as the leader in the space.”
xAd’s leadership in the mobile advertising space was recognized last year when the company was named the MMA Smarties™ “Global Enabling Technology Company of the Year”, a designation awarded to xAd for its “innovative technology” and “unprecedented leadership within the mobile marketing industry to help its growth and best practices”. xAd was also named a “Top 15 Pre-IPO AdTech Start-Up” by Business Insider and a Red Herring “Top 100 Company” in 2013.
Founded in 2009, xAd is the only global mobile-location ad platform and the leader in delivering targeted mobile ads based on accurate user location and search context. Across its network, the company aggregates and manages billions of monthly ad impressions from which it derives the largest supply of location-based advertising inventory in the market. xAd delivers targeted mobile location@scale for over a million national and local advertisers, including brands like Pinkberry, Home Depot and Wells Fargo. xAd is based in New York City with several satellite offices across the U.S. and internationally. For more information, visit http://www.xAd.com.
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