Venture-Backed Mobvista Lists On China’s NEEQ

Chinese mobile marketing platform Mobvista Co. Ltd., backed by Midas Capital, Haitong Securities and others, has listed on the National Equities Exchange and Quotations (NEEQ), or China’s new third board, says a company announcement.

At the same time, Mobvista plans to initiate a new round of fundraising to accelerate growth and monetization without specifying how much it is targeting.

The company says it will enhance globalization and accelerate coverage in North America, Europe, South Asia and Southeast Asia.

Founded in 2013, Mobvista raised US$12 million series A funding led by NetEase (Hong Kong) Limited and Midas Capital in October 2014.

It completed RMB200 million (US$32.21 million) series B round from Shanghai Media Group, Golden Eagle Broadcasting System, Haitong Securities and China Securities in July 2015.

Mobvista’s mobile digital marketing platform covers over 240 countries with over 10 billion daily impressions.

It operates an overseas mobile game publishing platform, and owns a user database covering over 2 billion devices and 2,000 user targeting labels.

Its major customers include Baidu Inc., Alibaba Group Holdings, Uber, and Flipkart.

In 2015, Mobvista established strategic cooperative relations with Google AdWords, Twitter and Facebook, says the announcement.

China Expert network