CBS in the Loopt with GPS service

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NEW YORK -- CBS Corp. and social-mapping service Loopt said Wednesday that they will launch a location-based mobile ad service, an agreement that the companies say is the first of its kind.

The initiative will serve ads to users of CBS Mobile's sports and news WAP sites based on their location using GPS technology. The ads could, for example, direct a user of one of the mobile sites to a specific pizza shop that they are walking by.

The service, which will launch in the second quarter, will be restricted to users of carriers that have deals with Loopt, which right now is only Sprint Nextel and the Boost Mobile MVNO, which runs on that company's network. Loopt said that more announcements about partners will be made in the next couple of months.

CBS said that it does not have any advertisers lined up for the service. It will be taking the project to marketers now that it has been publicly announced.

Loopt is a Silicon Valley, Calif.-based company that utilizes GPS technology to create maps and send out messages and alerts on mobile devices and the Web. It is backed by Sequoia Capital and New Enterprise Associates and also works with such privacy and security organizations as the Center for Democracy & Technology and the Congressional Internet Caucus Advisory Committee.
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