October 7, 2013
Mobile Advertising in India is estimated to rise from 300 Cr ($48.5 Mn) this year to 430 Cr ( $69.5 Bn) in 2014 at a CAGR of 43%. Pokkt is a mobile payment platform that’s trying to leverage this market by enabling owners of paid digital goods and services to monetize their users through an advertiser funded model.
Pokkt was launched in 2013 by Rohit Sharma (CEO), Vaibhav Odekar (COO) and Sharad Ingule (CTO). In October, the company raised angel funding through Jungle Ventures and Samir Bangara, former managing director of digital at Disney UTV. Pokkt.com is owned and operated by Maiden Marketing Pte. Ltd.
Pokkt has an online marketplace with three parties namely content creators, consumers and advertisers. Apps, videos, games, music etc., can be downloaded by consumers without paying a single cent.
The startup claims to enable users to purchase digital content on web or mobile and do it for free by offering multiple payment tools such as watching videos, installing applications, subscribing to services, participation in surveys etc.
It provides engagement tools for advertisers to help them reach out to active users on both mobile and web. Pokkt offers a solution across WAP, web and in-app presence to obtain new customers and monetize their content.
According to CEO Rohit Sharma 'monetisation is the biggest challenge for owners of digital content, products and services today. At Pokkt, we help developers and publishers to address this challenge. He also stated that they had to incorporate the firm in Singapore as that would help in expansion to South East Asian markets as well.The company has secure 25 advertisers, 5 publishers and serves over 25,000 consumers since its launch according to techinasia.com.
This model however, is not unique or new globally. some of the companies operating in this space are TrialPay and WebLoyalty . TrialPay, a california based compnay, has been pushing its platform since 2006 and has raised upto $55.8 Mn in funding till date. Their system claims to be used by merchants such as skype and provides consumers with free trials in return for participating in deals from their advertising partners.
LTP View: Being one of the few companies to operate in both the mobile ad and payments market in emerging Asia, Pokkt has an unprecedented opportunity to establish itself. According to Zenith Optimedia, global mobile advertising marjet was worth $8.3 Bn in 2012 and is estimated to increase to $33.1 Bn by 2015. This gives further reason for the company to expand their operations in South East Asian markets.