Mobvista, the Asian mobile advertising technology company, has just reported record financial results for 2016. Revenues reached $296 million, representing an increase of 155% compared to 2015.
With 60% of revenues now coming from clients outside of China, it’s safe to say that Mobvista is on track to expand its global reach. The company also reported that revenues in the US to had increased nine-fold, whilst revenues from South Korea grew five-fold. Mobvista’s total assets tripled from $86 million to $254 million in 2016.
Robin Duan, Founder and CEO, Mobvista, explains the growth:
“2016 has been a record year for Mobvista, both in terms of financial performance and our growth as a company. Mobvista has become more than just a user acquisition company. We have expanded our products and services along the value chain to the point that we can help brands on almost every aspect of their campaigns and publishers with traffic monetization.”
The company offers a wide variety of mobile advertising solutions, including performance-based ads, boost advertising solutions, search ranking solutions and more, in addition to monetisation tools for developers.
Late last year, Mobvista launched its native and video ad mediation platform Mintegral, which functions as a SSP to provide monetisation solutions for publishers. In just a few months, Mintegral’s reach has grown from 180 to 250 million daily active users. In addition, new partnerships have been built with over 1,000 apps including Camera360, 360 Security and SHAREit.
Despite slower economic growth, mobile ad spend in China continues to rise sharply. eMarketer predicts mobile Internet ad spend to reach $33.99 billion this year – almost 70% of total digital ad expenditure. Mobile ad spend in the country is expected to grow by at least 20% through to 2019.
Whilst these are good predictions for a growing market, the increase has led to the Chinese mobile advertising landscape becoming a little more crowded and competitive. Whilst ad spend is shifting rapidly to digital formats, companies such as Baidu, Alibaba and Tencent have positioned themselves to grab the largest slice of the pie. The three companies, collectively referred to as BAT, are now predicted to take 72% of all mobile ad expenditure in China this year.
Mobvista raised equity of $78 million in 2016 and received $98 million in a credit line from Bank of China in February 2017 to bolster its future expansions.