Ad tech platform Tyroo has launched product ads for app developers. Launched at the Mobile World Congress (MWC) Barcelona this week, the new Native Product Ads, will enable app developers to monetize apps through transactional advertisers (e-commerce and mobile first businesses).
With the new product, product ads will appear natively in an application with product recommendation for consumers targeted through millions of data points. The ads, enriched with native design, will enable the consumer to experience shopping within their application, says Tyroo.
Tyroo aims to drive over 100 million transacting customers through publisher partners and innovative native product ad platform in the next 2 years after this launch. The product is currently available only for Android but Tyroo said it will soon be announcing the launch of IOS and Windows versions.
Speaking with exchange4media at the launch, Siddharth Puri, CEO of Tyroo said, “The current advertising solutions on the mobile do not think about the end consumer or performance advertisers. They are still into just advertiser communication. We have created app stacks and ad formats (with Native Product Ads) that completion of transactions within the publisher ad.”
When asked how much the e-commerce sector contributes to Tyroo’s revenue, Puri said it was a “very strong category” but would not give any numbers. He, however, said that the new Native Product Ads were specifically aimed at e-commerce and mobile contributes “majority” to Tyroo’s revenue. “The Indian e-commerce sector is expected to get around $6 billion in venture funding and this will mainly be in the area of mobile advertising. With Native Product Ads, we aim to capture a large part of this significant market,” he said.
E-retailers have been aggressively working in building their mobile capabilities, especially for m-commerce. In fact, within e-commerce, mobile commerce is expected to be one of the buzzwords in 2015. To build their mobile capability not only are e-commerce players looking to work with ad tech companies but are also looking at developing their internal competence. In an earlier interview with exchange4media, Sachin Bansal had hinted that money would be spent on building technology platforms, while acquisitions also remained an option. “We see ourselves as the mobile e-commerce company of the future,” he had said. Flipkart is not alone in this way of thinking. The likes of Snapdeal, Amazon, etc. have all made investments in increasing their mobile presence.
Mobile commerce is going to be our focus area: Sachin Bansal
“These are very exciting times for us and the opening up of monetization creates more revenue potential and options for us,” said Puri, when asked about the changing nature of e-commerce in India.
Tyroo, which is a part of the SVG Media Group, claims it delivers more than 2 billion ads every month, reaching over 100 million consumers across 15 markets. It is considered one of the top 5 ad networks in India and says its focus is on performance marketing.