AdWallet is an app that lets the user decide when to watch an ad, and they get paid for it. For every thirty-second ad, a user makes $0.50, as long as they can answer an ad related question.
How it Works
Advertisers place their ads on AdWallet in a simple campaign creation process. Users receive a text message letting them know a new ad is ready for viewing. Users watch the thirty-second ad and get paid after answering a question to prove that they watched. Plus, the user can get an additional $0.25 for sharing the ad on social media. Users can then cash in when they have $10 of credit, which can go to a gift card, bank account, PayPal account, or a non-profit. Advertisers can simply sign up through their online dashboard and launch their ad with a click of a button. The company is focusing on Albuquerque advertisers first, then expanding. Advertisers currently on-board include Lovelace, MVD Express, Supercuts, and Twilight Homes.
The Inspiration
The brainchild behind the app is CEO Adam Greenhood who spent over eleven years as Creative Director at an ad agency and was frustrated when it was obvious that ads weren’t being watched.
At the soft launch on July 27, 2017, users tested out the app and checked out the first ad. To celebrate the launch and to give back to the local community, AdWallet announced they are donating $20,000 each to three local nonprofits The Storehouse, and local chapters of the Make a Wish Foundation, and Big Brothers Big Sisters.
The Partnership
Greenhood approached Real Time Solutions (RTS) to create the app because he wanted someone local to Albuquerque. From start to launch, RTS had three months to get the app up and running.
Seed Funding Success
The app is launching with $750,000 in seed funding, 95 percent of which was raised locally in Albuquerque. The company launched a $300,000 advertising campaign to encourage consumers to download the app. The company plans to expand nationwide in 2018. The app is available through the AdWallet website and currently available for iPhone and Android. Read more about the Albuquerque startup scene at TechCo
