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GetJar Launches Virtual Currency for Android

GetJar (Businesswire) - 23 February 2012

GetJar Launches Virtual Currency for Android

New Global Currency Improves Monetization for Android Developers, Rewards Consumer Loyalty

SAN MATEO, Calif.--()--GetJar, the world’s largest independent app store, announced today that it is expanding its successful GetJar Gold Program with GetJar Gold virtual currency that rewards consumer loyalty and will improve monetization across the entire Android ecosystem.

“Our early results are showing significant increases in both revenue and conversion, and we expect developers will experience an increase of up to 10X for participating.”

GetJar Gold virtual currency is backed entirely by advertising spending rather than consumer dollars. Consumers earn GetJar Gold virtual currency by downloading any Android apps, and can spend it on premium apps and in-app purchases. GetJar Gold virtual currency can be used with any Android apps from any app store, including GetJar, Android Market and Amazon.

Developers can use the GetJar SDK to support GetJar Gold virtual currency for in-app transactions as well as upgrades from free to premium versions of their app. Virtual currency collected by app developers can be exchanged with GetJar for real dollars. The SDK is available and can be downloaded here.

“The virtual nature of the currency and its linking to the global advertising spend solve two major problems that the traditional billing platforms have struggled with – low conversions due to the complicated user experience and the lack of access to global markets,” said GetJar CEO Ilja Laurs. “Our early results are showing significant increases in both revenue and conversion, and we expect developers will experience an increase of up to 10X for participating.”

About GetJar

GetJar is the world’s largest independent app store with over 2 billion downloads to date. GetJar Gold is a loyalty program that rewards users with free apps and virtual goods. The company distributes more than 350,000 mobile applications for Android from over 395,000 registered developers. TIME named GetJar one of “10 Start-Ups That Will Change Your Life.” GetJar is headquartered in Silicon Valley with offices in Seattle, the UK, and Lithuania. For more information, visit www.getjar.com and follow the company @GetJar on Twitter.

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Candace Locklear, 510-292-8216
candace@mightypr.com


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