Mobvista’s new funds to grow overseas
Print Edition
MOBVISTA, a mobile marketing start-up, said yesterday it has raised 200 million yuan (US$32.21 million) from China’s top media firms including Shanghai Media Group and Mango TV. The latest injection allows Mobvista to expand overseas mobile marketing and game distribution channels, said the start-up.
Mobvista, founded in 2013, attracted US$10 million investment from NetEase in 2014.
The new investors included a media fund founded by Shanghai Media Group, the city’s biggest media group, and Mango TV, and China Securities.
The latest investment valued Mobvista, Asia’s biggest mobile advertising platform, at 2 billion yuan.
In 2015, Mobvista is expected to generate a revenue of 1 billion yuan and its global footprint will cover 230 countries and regions. Its clients include Baidu.com Inc, Qihoo 360 and Amazon.
China’s media advertising expenditure will expand 15 percent annually to 2 trillion yuan by 2019 despite lower ad spending on traditional media, according to research organization CTR China.
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