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With the release of the first iPhone, Apple proved invalid the claim that the U.S. market wasn't "ready" for mobile advertising. While iPhones make up less than 1 percent of mobile devices today, they've garnered up to 75 percent of video impressions in recent ad campaigns, with 51.8 million ads served last month.

Clearly, if you build it, they will come.

Still, startups in the mobile ad space continue to face a long, bumpy road - from relatively weak uptake on the brand-side to a poor showing on the consumer-side, this 'aint a place for the faint of heart. But thanks to the iPhone, the path is being paved...and the smartest entrepreneurs are taking the road more traveled.

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Added by Dealmaker Media on July 30, 2008