Mobvista uses recent funding to expand in the US
Mobile ad network, Mobvista, recently announced that it will be pushing ahead with US penetration plans and due course seeks to attract advertisers and eCommerce platforms. Following funding of $32m in a Series B in July 2015 led by Shanghai Media Group, Mango TV and China Securities, Mobvista now approaches advertising networks and targets with large user bases. Co-Founder and VP, Xiaohuan Cao, confirmed that revenue or profitability would not be important for potential targets.
Mobvista ad system
The Hong Kong-based company, founded in 2013, expects revenues of $200m this year and has plans for an IPO which could raise between $80m to $100m on a Chinese exchange.
Part of its funding will go towards an aggressive expansion into India, according to Cao. With clients such as Uber, Lyft an Kabam, Mobvista is well aligned to attract new networks. Its mobile advertising platform offers features such as retargeting and auto-ad placement. It delivers 10bn daily ad impressions in over 230 countries.
Mobvista confirmed that in addition to acquisitions, it plans to establish strategic partnerships with ad networks and social media providers.