Ad technology firm LifeStreet Media announced today that it’s entering the mobile real-time bidding (RTB) space, bringing its RevJet platform for “high velocity” ad testing together with the latest hot ad trend.
What’s real-time bidding? In the ad world, it describes a new way of buying and selling ads on a per-impression basis, rather than doing so in bulk. By finding the best possible ad for every impression, the RTB trend aims to boost ad revenues and deliver more relevant ads to consumers. It’s a win-win for everybody.
LifeStreet Media’s RevJet platform, which gives advertisers a way to quickly test out different types of ads has already proven itself to be a big help for display and in-app advertising. The company says it has paid out $170 million in ad revenues to customers so far, and it has driven 350 million mobile app installs. LifeStreet came out of stealth mode last year with a massive $66 million round, so investors likely see the value in what it’s offering.
Basically, the combination of LifeStreet’s fast testing process with RTB has plenty of promise.
“What we’re doing differently is perpetual high velocity testing,” Mitchell Weisman, founder and chief executive of LifeStreet, said in an interview with VentureBeat. “RTB is a way of buying media, then there’s a question of how you use the media, and how well you use the media.”
LifeStreet is bringing its new RevJet mobile platform to the major ad exchanges, including MoPub, Google AdMob, Nexage, and others. Research firm IDC projects RTB to grow 65 percent annually through 2016 to reach $13.9 billion, making it the fastest growing digital ad segment.
“Everybody does testing, everybody thinks testing is smart, it’s a question of scale, it’s a question of timing,” Mitchell said. “At LifeStreet with Revjet, testing is done perpetually … With most companies, testing is done on a test panel where only some inventory is used, with Revjet it’s more than 500 percent of inventory used for testing. Our technology allows for parallel tests to happen at the same time, such that a single impression is participating in more than one test at a single time.”
San Carlos, Calif.-based LifeStreet Media has received funding from Nautic Partners, Exigent Ventures, angel investors, and its founders.