CBC leads $20m Series B investment in iPinYou
China Broadband Capital (CBC) has led a $20 million Series B financing round in Beijing iPinYou Information Technologies (iPinYou), a Chinese real-time bidding digital advertising platform. Japan’s Vangoo Investment Partners and existing investor Forward Capital also participated.
The proceeds will be used to upgrade the company's product, technology and staff recruitment.
Founded in 2008, iPinYou provides real-time bidding technology, proprietary cloud computing platform and patented audience profiling technology. The company serves over 200 brands and has reported year-over-year revenue growth of over 300% in the past few years.
"DSP itself is a viable business model with a strong first mover advantage," Ying Zhang, partner of CBC Capital, said in a statement. "In speaking with iPinYou's clients and partners and studying other companies in the industry, we are confident that iPinYou is a clear leader in technology, data and customers base."
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