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WirelessDevNet.com Press Release
World’s Largest Mobile Advertising Network AdMob Closes $15 Million in Series B Funding
(Orlando, Florida and Henderson, Nevada – March 26th, 2007) – AdMob, the world’s largest mobile advertising marketplace, announced today that it has closed $15 million in venture capital funding. The Series B financing round was led by Accel Partners, with previous investor Sequoia Capital participating as well. The announcement was made today at CTIA Wireless 2007 in Orlando, Florida and iMedia Breakthrough Summit in Henderson, Nevada.
The company says that it will use the funds to develop new solutions that will make it easier for advertising customers to leverage mobile. Recent AdMob metrics include:
Over 1.6 Billion ads served in less than a year
More than 1200 publishers
Ads viewed in over 160 countries
“Mobile Advertising is exploding as advertisers of all types learn to leverage the mobile medium,” says Rich Wong, Partner at Accel Partners, who will join the board. “We’re excited to work with AdMob and believe that the AdMob platform and unique international footprint are ideally positioned to serve publishers and advertisers in mobile, and set the direction in this dynamic market.”
In January, AdMob announced that it had served 1 Billion ads in the trailing six months. Demonstrating the acceleration in the market, AdMob has served more than 600 Million ads in the last 60 days bringing the total to over 1.6 Billion. Much of this growth has been fueled by growing activity in the US and Europe.
“We are thrilled to receive such enthusiastic support from Accel Partners,” said Omar Hamoui, CEO and Founder of AdMob. “We regard it as recognition of AdMob’s accomplishments to date and a testament to the growth of the industry and the opportunities to come. This financing will enable AdMob to invest in making mobile advertising easy and accessible to unlock the full potential of this medium.”
Advertisers are increasing their use of AdMob’s platform to reach customers on their mobile phones using different targeting capabilities. Some statistics on targeting included:
95.2 % of AdMob ads leveraged geographic targeting
63.2 % of AdMob ads leveraged behavioral or demographic targeting
20.2 % of AdMob ads leveraged handset targeting by manufacturer
9.1 % of AdMob ads leveraged targeting based on device capabilities
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