The business model is rather simple – developers choose a pool of applications to recommend to their users from among the advertisers in the network, then OpenCandy’s algorithm chooses the most appropriate recommendation for each individual. Advertisers pay each time a user chooses to install their software and for each successful install, OpenCandy shares those advertising dollars with the developer or publishers. Simple, yet brilliant. OpenCandy is backed by a super list of investors which include Google Ventures, Bessemer Venture Partners, O’Reilly AlphaTech Ventures, Reid Hoffman and Jordan Greenhall. Last year, 2009, was focused on building out the product and proving the model works. This past year was devoted to scaling the company, expanding existing partnerships and developing new ones. OpenCandy has a variety of openings, so if you are interested in working with them, be sure to check out their job opportunities. We’re excited to come visit OpenCandy this week in San Diego as they are a sponsor of our Tech Cocktail San Diego mixer on December 2nd. A leader in the San Diego tech scene, come out and meet some of the OpenCandy team and see what they are all about.
