AdMob announced that it has achieved cash flow positive results and secured a new $15.7 million Series C investment round, led by Sequoia Capital’s Growth Fund with existing investor Accel Partners participating, to expand its global leadership position. The company has experienced strong growth over the past year, more than tripling the number of ads served on a monthly basis to 4.5 billion in September 2008.
Fueled by this funding, AdMob will make significant strategic investments to increase the company’s clear lead in mobile advertising, including:
â€¢ Accelerating the growth of worldwide operations by hiring local staff in key markets and adding new language interfaces, with an emphasis in Western Europe, India, South Africa and Japan;
â€¢ Deepening the investment in the company’s mobile technology platform, including its targeting, optimization and ad serving algorithm;
â€¢ Expanding the breadth of offerings for both publishers and advertisers; and
â€¢ Increasing leadership position in the U.S. by growing AdMob’s sales and business development teams
AdMob also announced that its publisher network now includes more than 6,000 partners worldwide giving it an unmatched scale. New publishers in 2008 include MySpace and MovieTickets.com.
Originally posted on October 22, 2008 @ 6:59 am