his evening LifeStreet Media has announced the acquisition of Social Cash’s ad network business, one of the leading monetization providers for application developers. In an effort build up the company’s position as “the largest social media ad network”, the company has decided to acquire all the assets of SocialCash. Given that it’s an asset acquisition, Social Cash will continue to operate as an independent company as they ramp up for a new product offering later this year.
SocialCash CEO Rob Jewell elaborated briefly, “We were looking for an ad network partner because we need SocialCash 100% focused on an exciting new venture we’ll be rolling out later this year”. Unfortunately no other details have been provided, however the company has been making a transition over the past 6 months into their offices in San Francisco, from their previous headquarters here in Washington, D.C.
In contrast to offers, which have become one of the leading monetization solutions within social applications, LifeStreet as well as SocialCash provides banner advertising solutions. While we’ve been seeing a shift away from the banner advertising model, it still accounts for a large percentage of advertising within social platforms like Facebook.
Rival ad network AdKnowledge has been acquiring leading banner ad networks like SocialMedia and Cubics in an attempt to create a social advertising roll-up. Outside of RockYou and Slide, SocialCash was one of the few remaining independent banner advertising networks on the Facebook platform. Most of the others have since been gobbled up by larger companies.