With most businesses already being familiar and investing heavily on retargeting of their web-based ad campaigns – mobile retargeting – in Indian market – is more or less a topic of confusion – if talking of its availability. While the technology to enable retargeting being technically possible, the industry is still at a very premature level and most of the advertisers in mobile space rather stick to simple display advertisements only.
In order to change that, and offer an end to end ad retargeting service on mobiles, SilverPush - a Gurgaon based GSF accelerator startup, has come up with its own patented mobile ad retargeting technology.
Its two founders Mudit Seth and Hitesh Chawla, earlier founded and exited ‘Wisetouch’ – a tech based startup working in the field of outdoor advertising. The duo then clung on to building a product with a belief “Mobile Advertising that converts” and ventured SilverPush.
With its patented technology, SilverPush has already bagged 10 paying customers within 2 months of its launch with no marketing spend whatsoever. According to the startup, for one of their clients – a leading ecommerce based company – it has managed to deliver a CPA of 15$ on mobile as compared to a cost of 175$ before using its services.
Moreover, the company claims to match the same user between mobile web and app. They catch multiple parameters of the users from web and app and match them to get 100% accuracy. “We have build algorithms in such a manner that platform automatically adjust the bidding and based on users preference share ads on the same device.” added Mudit.
The company earlier in May raised their seed round from Siddharth Puri – CEO, Tyroo Media. The funds were used in the development of the product and other business needs. In just a couple of months of its operations, the startup claimed to have received 2 acquisition offers – which were turned down by its founders – as they foresee a much brighter future for their product.
Talking of the market size, global mobile advertisements spent holds a valuation of US $ 12 bn, off which retargeting is 20%. Now if we look at the Indian market, its rather significantly small, however US holds 60 to 70 percent of the total space. Looking at the figures – the startup is planning to make it big on a global level, by launching specifically in the US market.
“For SilverPush – Cross device Retargeting (PC to mobile and vice-versa) is the core vision – for which the market size accounts a value of US $ 15bn. Moreover its a pure Tech company and wants to focus purely on technology and algorithms more stronger to deliver results.” claims Mudit.
To contact Author, email Devesh@wirefootindia.comCategory Startups