Greystripe has already partnered with a number of advertisers, such as Sprint and Dove, and publishers, including CollegeHumor, Evite and Dictionary.com, to beta test the mobile web offering and are claiming to see strong results in terms of CTRs and CPMs.

For Greystripe’s rich media ads on the mobile web, the network is seeing a 1.31 percent CTR, compared to a 0.84 percent CTR for an average mobile web ad. Greystripe CEO Michael Chang also says that CTR’s are increased by an increase in size and above the fold placement on the mobile web.

Ads available on the mobile web include Greystripe’s interactive Immersion Ads and iAd-like Expandable ads. At launch, Greystripe will support these rich media ad formats on Android and iPhone devices, and static ads on BlackBerry devices.

There’s no doubt that as the use of smartphones increase, the mobile web will become more of a desirable platform for advertisers to reach consumers. In fact, some think that mobile web advertising will be more effective than in-app advertising. Chang says that he wants Greystripe to be ahead of the curve in offering both advertisers and publishers a comprehensive platform to reach consumers.

The mobile ad network arena is a competitive space, filled with tech giants like Apple and Google, as well as large independent networks like Millennial Media. For Greystripe, the mobile web offering also presents the opportunity to attract advertisers who want to reach audiences across the mobile web, iPhone, iPad, Android and Blackberry. And for publishers, Greystripe says that serving ads via their network can be lucrative. The company says a number of application publishers in the Greystripe network have consistently earned more than $100,000 per month.

Greystripe has been able to raise an impressive amount of VC funding and even got a $2 million infusion from NBC. The startup is one of the remaining independent mobile ad networks that hasn’t been swallowed up by a huge technology company; so it should be interesting to see if the company will eventually be acquired. Rumor has it that RIM is shopping around for an ad network.

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Authors: Leena Rao

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