European mobile advertising network madvertise has announced its turnover for the first half of 2011 has tripled when compared to the same period in 2010.

As a result, the company has set out plans to cement its footprint across the continent.

As a hatterIn total, 35 percent of the London-based firm's revenues are sourced from Europe.

 

In response, madvertise claims it will set about expanding the company's European workforce to cope with the increase in demand.

"As smartphone adoption rate continues to surge, it is unsurprising that companies are beginning to look more closely at the mobile advertising sector to understand if, and how, it can help their businesses expand and connect with consumers on another level," says Carsten Frien, CEO and co-founder of madvertise.

"As companies battle to stand out amongst consumers, mobile advertising has become a key way of engaging with your audience, as such we have seen extraordinary growth in the first half of 2011, something we expect to continue in the future."

Advertising aid

Jana Sievers, who heads up madvertise's partner development for marketing and advertising, recently lifted the lid on the firm's €5 million developer fund. 

The venture enables developers to accrue 100 percent of the advertising revenue of their apps until the fund runs out.

The firm's KatAPPult program also claims to guarantee an app a top 25 chart position within 48 hours, through the placement of ads within "relevant mobile websites and other apps".

[source: madvertise]