SocialVibe Ties with Placecast for Geofencing

SocialVibe, the online advertising provider provided engagement advertising technology to brands, said today that it has tapped Placecast for geofencing technology. Geofencing is the use of a consumer's location to target and tune specific advertisements and offers. Business details of the link between Placecast and SocialVibe were not announced. SocialVibe said the move will allow it to deliver virtual currency via SMS to users who have completed one of SocialVibe's brand engagements and are now located near store locations.