AdChina raises USD10m led by Mayfield China

Online ad network AdChina has raised USD10m in Series A funding led by Mayfield China. Cisco Systems VP, Jack Xu, also added to the round and joins the AdChina board. The Shanghai-based firm will use the funds to expand in the domestic market.

“The Chinese online ad market has been growing very fast in the past years and the 2008 Olympic Games are spurring ad spending,” says AdChina’s founder and CEO Alan Yan. “With a great team and funding in place, we are confident to rapidly scale our business.”

AdChina was founded in Apr 2007 and uses a targeted ad system to cater for a range of publishers and advertisers, covering topics such as cars, finance and consumer electronics. Advertisers including Unilever, L’Oreal, Adidas have signed up to the service.

China will overtake the UK and Germany to become the third-largest ad market in the world by the end of 2008, with a 6.8% share of the global market, predicts WPP-division Group M.

Published by Reinout te Brake

Reinout is a games investor and strategic business consultant specializing in the games industry. Reinout established his credentials through his own successful investments, start-ups, consulting and (advisory) board positions that led through time to strong bonds with key stakeholders in this fast paced industry. He is known for his outstanding results in the gaming industry. He has worked with many game studios around the globe and is therefore well known in the international gaming industry. Check out his games podcast;

%d bloggers like this: