Flurry, a provider of mobile analytics and mobile ad network solutions, announced its latest round of funding – $7 million – which included InterWest Partners and existing investors Draper Fisher Jurvetson, Union Square Ventures, First Round Capital and Draper Richards. Read the release.
AdExchanger.com spoke with Flurry CEO Simon Khalaf about the recent raise and the company’s plans.
AdExchanger.com: What was your experience during the fundraising process? The funding climate appears seems to be red hot for mobile.
SK: The climate is definitely improving, especially in mobile. In addition to our own experience, we receive inquiries from VCs to check on the performance of mobile applications in specific categories. The market especially started to heat up in the September timeframe.
AdExchanger.com: With AppCircle it would seem that Flurry is getting in the mobile ad network business and moving beyond just analytics. Fair statement?
SK: Our plan is to offer a variety of monetization services based on our core analytics service. As an example, AppCircle is a direct response, CPI (Cost Per Install) and CPS (Cost per Sale) network. Going forward, we will offer more services aimed at increasing revenue for app developers, and we will work with many online ad networks, not just mobile ones, to achieve that.
AdExchanger.com: Considering AppCircle is in private beta, can you share any early results you’re seeing in terms of ROI for developers?
SK: Here’s some sample data for you:
- Click-Through Rates range from 2.3% to 8%. Average on AppCircle is 4.8%. CTRs average better than traditional brand (CPM) based networks.
- CPIs are at about 50 cents for free apps and 30% of price of the applications if the application is not free.
- Brand Matters: CTRs and closure rates (sales all the way through the App Store) are 3x to 4x better for applications with a known brand (e.g., EA, Gameloft, and Disney) than others.
- Price Sensitivity Analysis: There appears to be little price sensitivity between $2.99 and $4.99. CTRs and Closure rates are roughly the same.
Please note that this data is from a sample of approximately 30 publishers, 8 million impressions and 120 different apps recommended within our system.
By John Ebbert