Mobile performance marketing network Yeahmobi has just raised RMB ￥639 million (about $100 million), to bolster its global expansion. The company now values at about ￥5 billion (about $720 million).
The funding is said to be used as working capital needed in mobile advertising business in subsidiary companies and branches, and as reserve fund for future mergence and acquisition of companies in the relevant industry.
Launched in 2011, the company is an intelligent 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.
In profitability, the company reported half year result of 2016 by making $97 million revenue and $11 million net profits, sustaining growth in business operation.
Yeahmobi has also just awarded Mobile Champion of China Channel Partner by Google in Google’s annual Channel Partner Summit. The winning 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 mobile marketing field.