AdChina has completed its series B round of venture financing led by Richmond Management, along with co-investors GSR Ventures and News Corporation. The financing will enable AdChina to grow its staff and invest in several new technology and commercial initiatives planned for 2009-10. AdChina’s current investors have previously been involved with such companies as aQuantive, DoubleClick, MySpace, Salesforce.com, Netease, and AsiaInfo. AdChina is the largest online ad network in China and reaches 300 million, or 85 percent, of Chinese Internet users. The Company has developed a powerful set of targeting technologies built on the largest inventory of advertising aimed at women, youth, and male audiences. Headquartered in Shanghai, the company has established regional sales offices in major cities in China, and has signed up premium brand advertisers. More than 300 leading publishers including portals, vertical, video, and social networking sites have joined AdChina’s network and allowed AdChina’s AdManager to access their quality ad inventory. Driven by a rapidly expanding online user base and growing domestic consumer spending, the market for online display ads in China is growing in excess of 30 percent per year on a $2 billion base for 2008, according to iResearch.
SatBroadcasting + Related: News Corp, GSR Ventures + Richmond Management $$$ To AdChina
AdChina has completed its series B round of venture financing led by Richmond Management, along with co-investors GSR Ventures and News Corporation. The financing will enable AdChina to grow its staff and invest in several new technology and commercial initiatives planned for 2009-10. AdChina’s current investors have previously been involved with such companies as aQuantive, DoubleClick, MySpace, Salesforce.com, Netease, and AsiaInfo. AdChina is the largest online ad network in China and reaches 300 million, or 85 percent, of Chinese Internet users. The Company has developed a powerful set of targeting technologies built on the largest inventory of advertising aimed at women, youth, and male audiences. Headquartered in Shanghai, the company has established regional sales offices in major cities in China, and has signed up premium brand advertisers. More than 300 leading publishers including portals, vertical, video, and social networking sites have joined AdChina’s network and allowed AdChina’s AdManager to access their quality ad inventory. Driven by a rapidly expanding online user base and growing domestic consumer spending, the market for online display ads in China is growing in excess of 30 percent per year on a $2 billion base for 2008, according to iResearch.
