Yeahmobi raises $100 million to bolster global expansion
Yeahmobi, the mobile performance marketing company, just announced that it has raised RMB ￥639m or around $100m to expand globally. Funding comes from Beijing’s Bohai Tongxin Private Equity Fund, Nanjing Huawen Hongsheng Startup Investment Fund and Shenzhen Qianhai Bochuang Private Equity Fund as well as 11 unnamed investors.
Yeahmobi offers mobile ad and publisher solutions
This values the firm at $720m.
Yeahmobi says it intends to use the cash injection as working capital to push its mobile ad business and as a reserve for future mergers and acquisitions.
The firm launched in 2011 with a mobile ad platform to help boost mobile tech companies acquire new users and monetise their inventory. Yeahmobi’s mobile products and services cover apps, mobile games, eCommerce, online finance, lifestyle, travel as well as other industries across 200 countries.
It closed another funding round earlier this year in April to raise $25m through equity funding. The move was led by Chinese technology firms Xiaomi and CEO Lei Jun.
Since then, it has made $97m in revenue and $11m in net profits to sustain business growth.
In addition, Yeahmobi just received the Mobile Champion of China Channel Partner by Google in Google’s annual Channel Partner Summit for its international performance, traffic volume and active users. This follows being named as “The Best Mobile Ad Service Premier Partner” and “The Fastest-Growing Premier Partner” in 2015.