China mobile advertising platform Yeahmobi raises $100m
Chinese mobile advertising network Yeahmobi has raise RMB639 million ($100 million) in a new round of funding to bolster its global expansion.
The round values the company at approximately $720 million. Investors include Beijing Bohai Tongxin Private Equity Fund, Nanjing Huawen Hongsheng Investment Fund, Shenzhen Qianhai Bochuang Private Equity Fund and 11 others, according to a filing.
Launched in 2011, Yeahmobi operates an advertising platform designed to help mobile technology companies achieve global growth, acquire active users and monetize inventory. It targets consumer apps, mobile games, cross-border e-commerce, internet finance, lifestyle, travel and other industries across 200 countries and regions.
Yeahmobi listed on the National Equities Exchange and Quotation (NEEQ), also known as New Third Board, in March through a reverse merger with an equipment manufacturer.
The firm raised $25 million in a round led by Chinese smart phone maker Xiaomi and its CEO Lei Jun in April. Proceeds from the latest round will be used as working capital for its mobile advertising business and as reserve fund for future acquisitions, Yeahmobi said in a statement.
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