Monitoring call records and targeting ads based on them sounds very close to what the NSA has been exploiting in mobile apps (c.f. revelations a couple days ago). Atrocious. I blame both Pingjam and the app developers for callously abusing end-user trust and integrating with such a shady third-party.
This also reminds me of top comment on the $50,000 Twitter name social engineering attack article[1]: setup a list of vendors that have pathetic security practices, but in this case the list would be of apps that integrate shady third-parties.
I'm not sure if these guys are super-slick sheisters or legitimately clueless. This 'woe-is-us' blog post, written in the style of the humble lean innocent entrepreneur, certainly strikes me as disingenuous.