Mobile ad network InMobi has acquired a San Francisco based startup MMTG Labs, reports TechCrunch. While the financial details of the acquisition were not disclosed, the report states that the entire team including co-founders Ryan Merket and Nalin Mittal will be joining InMobi. Founded in 2010, MMTG Labs operates a Facebook apps marketplace Appbistro and a white label app distribution platform AppGalleries (previously known as AppStores.com), which allows anyone to create a web and mobile compatible app gallery. While AppBistro allows developers to create apps for Facebook pages and Facebook Timelines and monetize it on a revenue-share basis, AppGalleries offers tools like an app curation service which allows publishers to curate apps from Apple's iTunes App Store, Google Play Store, Facebook and OpenAppMkt and features like the ability to run the app gallery on a custom domain, allowing developers to submit apps to their store, add their own reviews and ratings and more at zero fee. In August 2010, the company had raised $550,000 angel funding from Sand Hill Angels, Dave McClure’s 500 Startups, Sequoia Capital's Alfred Lin, i/o Ventures, Zelkova Ventures, Seraph Group, Erik Moore, and Thomas McInerney. As TechCrunch points out, it's likely that AppGalleries caught the attention of Inmobi, as it's a relatively novel concept. Publishers can deploy custom app stores and earn revenue in form of affiliate commission when users buy and install apps through their customised stores. AppGalleries also allows them to have sponsored app listings, so it's a smart way to integrate ad monetization via the app ecosystem. With more and more empowered…
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