Quepasa Corporation (QPSA), the public market leader for social discovery and owner of North-American platform myYearbook and Latin-American platform Quepasa, has announced the expansion of myYearbook's mobile virtual currency monetization with the launch of Offers on mobile.
Now a user of myYearbook mobile may earn virtual currency, or Credits, by completing Offers such as installing Android apps or watching incented iPhone videos. Users spend these Credits on a variety of virtual items in the application. The company earns money on each completed Offer.
"Mobile daily usage on iPhone and Android experienced double-digit percentage growth since the start of the year, recently surpassing 60% of all daily myYearbook visitors logging in on mobile," said Geoff Cook, COO, Quepasa Corporation. "While starting from a very small base, we are seeing encouraging signs of virtual currency monetization on the mobile platforms. In fact, since the launch of Credits on iPhone and Android in Q1, average daily revenue from purchased Credits has increased more than 300% over January, when Credits were available for purchase only on the web. Mobile users have been four to five times more likely to buy Credits than users on the web, primarily due to reduced payment friction."
"The mobile Offer Wall should continue this strong growth in mobile revenue," added Cook. "The model is effective on the web with 10% of web users in the fourth quarter completing an offer for virtual currency. We see no reason to think mobile users will behave differently."