No credit squeeze for AdMob, which has just secured a $15.7m Series C investment round.
The mobile ad network has experienced more growth over the past year. It served 4.5 billion ads in September 2008. This obviously encouraged VCs, led by Sequoia Capital, to inject more funds. Admob will use the cash to hire local staff in key markets and adding new language interfaces, with an emphasis in Western Europe, India, South Africa and JapanIt will also invest in the technology platform, expand offerings for publishers and advertisers and increase its leadership position in the US by growing the sales and business development teams.
Omar Hamoui, CEO of AdMob, said: “We chose to raise this new round of funding to continue to grow both the mobile advertising market and AdMob’s clear advantage in it by investing in the technology, operations and team that have set the bar for the mobile industry.”
AdMob’s publisher network includes more than 6,000 partners worldwide. New publishers in 2008 include MySpace and MovieTickets.com. In September 2008, AdMob ran more than 25 campaigns for brand advertisers including CoverGirl, Toshiba, and Comedy Central.
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