Rahul Jayawant hails from Mumbai but has had a vast global experience to handle the business side of things. He has worked for the likes of L&T and Accenture for more than two decades from South East Asia and UK. It was in 2006 when he had the idea of monetizing the idle screen on smartphones but the time wasn't right then.Fast forward 2012, and mobile was the biggest buzz word in technology across the globe. It was time to put the idea in action and Rahul got Yogesh Sholapurkar on board. Yogesh brought on board another cartload of experience and together they buid a team in the UK along with a development center in India to execute the idea. Eureka Mobile Advertising is a mobile phone utility that monetizes the idle screen to deliver exciting and relevant content to target subscribers. “Eureka is currently available on the Android platform. By utilizing the idle screen space of the mobile phone, Eureka provides a unique opportunity for brands to engage with their customers,” says Rahul.
Built on the back of proprietary technology, Eureka works in partnership with both, telecom operators, and brands. For subscribers that opt to download and continue using Eureka, the service offers a one-time cash reward for early bird subscribers, along with continued deals, and relevant content. Meanwhile, for brands, the opportunity lies in better utilization of their advertising spend, more transparency and greater assurance.
Eureka conducted a pilot in India starting April 2013. Idea was the exclusive partner for the first 3 months and has now tied up with other partners as well. Talking about the results, Rahul says, “The click through ratio globally is 1% but in case of Eureka we saw an average of 22%! This response has been very encouraging.” In December, Eureka is also launching a Loyalty program.
According to Berg Insight, a global telecom research firm, the global market for mobile ads is likely to grow at about 37% every year to $22 billion in 2016, from the $3.4 billion in 2010. Banking on this growth, over the next 12 months, Eureka aims to be present in multiple markets across the world.
Website: Eureka Mobile Advertising