Kiip

About Kiip

Kiip, founded in 2010, operated as a mobile advertising network that pivoted the traditional ad model towards a rewards-based system. The company was the brainchild of Brian Wong, who, at 19, conceived the idea during a flight while observing fellow passengers interacting with games on their devices. He noticed that ads were intrusive and detracted from the user experience, especially during moments of achievement like leveling up in a game. This led to the creation of a platform that would reward users with tangible offers from brands at these key moments of happiness and engagement.

Wong, a young entrepreneur who had graduated from the University of British Columbia at 18, teamed up with fellow former Digg employees Courtney Guertin and Amadeus Demarzi to launch the company. Wong's journey began after being laid off from his business development role at Digg, a setback that spurred him to pursue his own venture. His networking skills were instrumental in securing early validation and funding for Kiip.

Kiip's business model centered on connecting brands with mobile app users in a non-intrusive way. Brands would pay Kiip for each redeemed reward, with costs ranging from $0.25 to $3.00 per redemption. For app developers, integrating Kiip's software development kit (SDK) offered a new revenue stream and a way to enhance user experience and retention. The platform was designed for a wide range of apps, including gaming, fitness, and productivity applications. This approach attracted major brands like Coca-Cola, Procter & Gamble, McDonald’s, and Pepsi, who could reach consumers when they were most receptive.

The service worked by identifying "moments of achievement" within an app—such as completing a level, logging a workout, or finishing a to-do list. Instead of a standard banner ad, the user would receive a relevant reward, like a coupon for a beverage or a discount on a product, creating a positive brand association. To kickstart the platform, Kiip initially purchased gift cards from brands to use as rewards, later using the redemption data to prove the model's effectiveness and sign them on as official clients.

Over its lifespan, Kiip raised over $32 million in venture capital from investors including True Ventures, Verizon Ventures, American Express Ventures, and Interpublic Group. However, the company faced challenges, including a class-action lawsuit in 2019 related to user data collection, which was settled for $1 million without an admission of wrongdoing. Following this, in August 2019, Kiip went into foreclosure and terminated most of its staff. Its assets were subsequently acquired by marketing firm NinthDecimal.