Yeahmobi Raises $100 Million in Funding for Expansion
Mobile performance marketing network Yeahmobi has raised RMB ￥639 million (about $100 million), to bolster its global expansion. The company is now worth ￥5 billion (about $720 million).
The funding will be used as working capital needed in the mobile advertising business in subsidiary companies and branches, and as a reserve fund for the future acquisition of companies.
Launched in 2011, the company is a mobile advertising platform designed to help mobile technology companies reach global growth, acquire active users and monetize inventory. It operates in the field of consumer apps, mobile games, cross-border ecommerce, internet finance, lifestyle, travel and other industries, covering over 200 countries and regions, and delivering global coverage at large scale.
The last funding round of the company was closed in April 2016, and raised $25 million through equity funding, led by Chinese tech giant Xiaomi and its CEO Lei Jun.
The company reported, for the first half of the year, $97 million in revenue and $11 million in net profits, sustaining growth in its business operation.
Yeahmobi has also just been awarded the Mobile Champion of China’s Channel Partner in Google’s annual Channel Partner Summit. The award was given according to Google’s international performance standards, criteria including traffic volume, number of active users, reach of service and so on.
In 2015, the company was also named as “The Best Mobile Ad Service Premier Partner” and “The Fastest-Growing Premier Partner”. The sequential awarding over the two years marks Yeahmobi’s achievement in the mobile marketing field.