The tool uses an Algorithmic Bidding, an auto-bidding algorithm written by Dr. Kartik Hosanagar, a professor of Internet Marketing at The Wharton School and CoFounder at Yodle.
Dr. Hosanagar says “The algorithm compute bids in real-time based on multiple factors including targeting settings, click-through rates, conversion rates, CPA, conversion quality, virality, etc., thereby serving the advertiser and achieving best ROI.”
The company developed the adSpringr tool using the $350,000 it raised through angel round from investors in the US, UK and Turkey. The round was led by Prof. David Bell from The Wharton School and Prof. Michael Wolf from University of Zurich.
The tool is now available at a special launch pricing, where the advertiser will only pay a small percentage of the money saved by using the tool.
AKG’s product arm has also developed NyooTV, a Social Bollywood entertainment platform. The services division at AKG, SocioSquare provides premium social media management to companies like Zee Group, The Mobilestore, 99acres.com, FirstSource Global, DBS Bank and others.