Facebook announced last week it generated $1.8 billion in mobile advertising revenue in the third quarter of 2014, which accounted for nearly 66 percent of Facebook's total advertising revenue of ($2.96 billion). In the previous quarter, Facebook's mobile advertising revenue was $1.66 billion, or 62 percent of Facebook's total advertising revenue.
Startups Building Tools To Support Facebook Ads
The increase in Facebook's mobile advertising revenue has attracted app and game developers who want to buy ads on Facebook. To decrease the cost and time of buying such ads, Red Hot Labs launched its Toro tool today. Toro is a web tool that allows developers to set their ad-buying budget, determine an ad campaign based on the budget, and track the ad campaign via a dashboard.
Red Hot Labs is a group of app and game developers focused on creating apps and other tools to assist other developers. Toro is Red Hot Labs' recent tool, which simplifies the process of marketing apps and games on Facebook.
- Founded: 2012
- Location: San Francisco, CA
- Funding: $1.5M Seed in February 2013
- Investors: Andreessen Horowitz; SV Angel; General Catalyst Partners; Greylock Partners
Red Hot Labs joins the long list of startups developing tools for developers and other companies to market their products on Facebook. In China, Chukong Technologies recently partnered with other companies, including Chartboost and Playfab, to assist developers with app pricing, marketing, and customer acquisition.
Similar Companies: Marketing Tools for Developers
Using DataFox, we created a list comprised of Red Hot Labs, Chukong Technologies, Chartboost, and Playfab so that we could identify other companies developing marketing tools for developers.
The list of similar companies above includes Jumptap, which was acquired by Millenial Media in 2013 for more than $200 million, and Flurry, which was acquired by Yahoo this year for more than $200 million. Among those companies on the list that have not been acquired, Localytics stood out for its list of clients, including ESPN, eBay, Fox, and the New York Times.Localytics provides a powerful analytics and marketing platform for mobile and web apps. Localytics is used in more than 20,000 apps on more than 1.4 billion devices, helping companies such as ESPN, eBay, Fox, and the New York Times drive user engagement, loyalty, and customer lifetime value.