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WirelessDevNet.com Press Release
Admob Gets Backed by Legendary Silicon Valley VC, Adds Nokia and Ebay as Advertisers
MENLO PARK, Calif. – AdMob, Inc., operator of a global online mobile ad network that generates over 250 million page views per month, announced today that it’s received Series A funding from Sequoia Capital. The company, formed in early 2006, will use the capital to support continued rapid growth, to expand sales and marketing efforts, and to accelerate the development of its Web-based products and services. AdMob CEO Omar Hamoui also announced that the company has added two investors to its board of directors — Jim Goetz of Sequoia Capital, and Maynard Webb, prominent Silicon Valley investor and former COO of eBay.
Separately, the company confirmed that global brands, including eBay Wireless and Nokia, are actively participating in the AdMob network. Bonfire Media, operator of eBay Wireless, began using the AdMob marketplace to promote its mobile applications earlier this year. “We’re really pleased with the results. AdMob’s marketplace helps us reach our target customers very effectively,” Alex Poon of Bonfire Media said.
To build its advertiser base further, the company announced it’s extending the $20 free advertising promotion it launched last week (http://www.admob.com/250million). “AdMob puts big and small advertisers on a level playing field in an open marketplace. Offering new advertisers $20 ad credits has turned out to be a great idea to help them get started on the marketplace,” Hamoui explained.
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