Adzookie announced on Tuesday, April 5, 2011 that it will pay mortgages for homeowners who agree to turn their houses into a massive billboard for the start-up advertising firm.
The company will paint their logo and social media contact information on selected houses in exchange of which they will pay the homeowner his monthly mortgage.
There are only two requirements for a house to be selected. First is that it should not be rented or leased and it should not be in cities prohibiting the painting. Second is that the homeowner should commit to the ad for at least three months.
The deal may get extended for up to a year. But if the homeowner cancels after the three-month obligation or if Adzookie cancels the deal, the contract is terminated and the house will be repainted back to their original color.
Adzookie’s offer received 1,000 applications by late afternoon on the first day of its launch, including a church. But not all homes can win the deal because the company limited its budget to $100,000 for the whole program of mortgage financing.
Adzookie is a California-based mobile ad network that places local businesses’ ads for free if they, in exchange, allow ads to be placed on their own mobile sites.
Adzookie CEO Romeo Mendoza got the idea when he saw signs outside homes saying ‘bank-owned’ while driving his daughter home from school one day. He knew that the economy was tough and he found it sad that a lot of homeowners were struggling.
For him, promoting their business in an outrageous and fun way made sense.
Mendoza expects buzz from the program and that the house-sized ads will publicize the fledging Adzookie. He started the company 16 months ago and has been running it on his own funds.
The company currently employs just eight people, but Mendoza said he is looking to raise venture capital and expand.
The home billboard scheme is expected to raise the company’s profile.