NEW YORK ( TheStreet) - Nobody really likes to see advertising on their smartphones. It's an annoyance we try to ignore. An annoyance we're forced to endure.
But, what if someone offers to pay you to consider looking at smartphone ads, what then? That's what the new Locket mobile advertising app is all about.
Locket is an application made for smartphones running on Google's (GOOG) Android operating system. It promises to pay you a penny for each time you look at your phone's lock screen You don't actually have to look at, read or watch the ad if you don't want to. You get paid for being offered the chance to be enticed.
The app's developers explain the idea in simple terms: "Swipe In! Cash Out!" You turn on your phone and see a full-screen ads on your lock screen If you swipe left you'll see more of the advertisement. If you swipe right you'll be taken directly to your phone's home screen as you normally would. Either way you get paid.There are limits though. Locket will pay you up to three pennies per hour to use the software. It comes out to a maximum of 72 cents per day (if you stay awake to use your phone 24 hours per day) for possible maximum of $262.80 per year. For just for clearing your start screen. You can ask for your payout in cash, a gift card or direct the funds to be used as a charitable donation. Company CEO and co-founder Yunha Kim explains "We glance at our phones, on average, 150 times per day which is why we believe the smartphone lock screen is the most valuable unused real estate in advertising." Locket was founded back in March and has received $500,000 in funding by Green Oaks VC (only three days after the idea was pitched) and a small number of individuals termed "rock stars" who reportedly come from the entertainment and marketing backgrounds. At this point Locket's employees work out of the same midtown Manhattan apartment where the founding members live. The scene has been described as looking somewhat like what was immortalized in the film "The Social Network" but without Hollywood-imagined perks.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV