gWallet, one of the newest monetization services for social applications, announced a new round of funding today, which brings the total amount of funding raised to $12.5 million. The service is run by Gurbaksh Chahal, who previously sold two startups at the peak of the internet bubble (at only 16 years old), and has also been featured on the Oprah Whinfrey show, making him a relatively high profile Silicon Valley entrepreneur, although he’s rarely seen at industry events.
Gurbaksh has also been on the show “The Secret Millionaire”. I suggest watching the video to see why he would name his startup gWallet. gWallet has become a significant player in the virtual currency space, and is attempting to “clean up” the virtual currency space. According to the company, “Unlike current incumbents in the virtual currency space, gWallet is introducing proprietary technology, strict ethical standards and the industry’s first operating guidelines to better protect consumers and make this emerging media “brand safe” for advertisers.”
While Offerpal also recently introduced their own guidelines, gWallet is hoping to be more transparent. They are also hoping that the company can position itself as a “White Knight”, protecting users from all the evil advertisers! While I’m not sure how long such positioning will last, I hold great respect for those companies which operate with integrity. While gWallet has not been active in promoting themselves, today’s announcement is most likely aimed at positioning the company as a formidable competitor to other offer monetization platforms.
Gurbaksh Chahal on Oprah
Gurbaksh Chahal on Secret Millionaire