Mobile advertising start-up Greystripe isn't content to just plop some ad text on top of an app screen. No, they actually want to make the ad more like a real app.
The Frisco-based company's strategy is to create interactive advertisements and pair them with otherwise free iPhone apps. Loading the free app runs the ad portion (in the Burger King example shown above, the user has to pop soap bubbles coming out of the King's tub), then continues on to the actual app. Since many of the ad/games start as Flash animations, which of course the House of Jobs doesn't support, Greystripe also has the means to convert them into an iPhone-friendly format.
The Greystripe approach has already piqued the interest of venture capitalists, most recently from Peacock Equity, the joint venture capital arm of GE Capital and NBC Universal, who ponied up US$2 million to add to a previous US$5.5 million from Walt Disney Company's venture capitalist wing.
[Via the New York Times]