Gobi, Steamboat invest Yoyi Media
Gobi Partners, the early stage IT and digital media-focused Chinese VC firm, and Steamboat Ventures, the Disney-supported global VC, have invested in Yoyi Media, a China-based provider of online advertising and marketing solutions.
The company provides innovative video and rich media advertising platforms to China’s top-ranked websites, as well as globally well-known companies, including Audi, China Merchants Bank, Intel, Microsoft, and Nokia. The deal size was not disclosed, but the funding will enable it to develop additional functions for its existing platforms. China’s rapidly growing online advertising market already exceeds RMB30 billion ($4.4 billion) and is expected to expand at a 49% compound annual growth rate between 2010 and 2013.
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