Medialets Ad Network First For iPhone Platform, Will Throw Ads Into Free Apps

There are already a ton of free apps in the store (134 to be exact), but ad startup Medialets is hoping to increase that number by providing a platform-wide ad network so developers can easily launch ad-supported free apps. Revenue will be split between devs and Medialets, with none apparently going to Apple (MobileBurn is reporting that Medialets’s CEO is buds with Jobs from the NEXT days and has the capo’s blessing) . Nobody has quite figured out the mobile advertising game on a large enough scale to do anything big, and having your pretty iPhone apps marred with Busted T’s creative might be less than ideal, so it will be interesting to see how many developers jump aboard. [Medialets via MobileBurn]