Mobvista, a China-based mobile marketing platform backed by several corporates, floated on China’s National Equities Exchange and Quotations (NEEQ) market yesterday, raising an undisclosed sum.
Founded in 2013, Mobvista operates a mobile digital marketing platform that spans 240 countries, as well as an international mobile game publishing platform and a user database covering more than two billion devices.
Internet company NetEase and investment firm Midas Capital invested $12m in MobVista in November 2014, before media firms Shanghai Media Group and Golden Eagle Broadcasting System, Haitong Securities and China Securities added $32m of series B funding in July this year.
The proceeds from the listing will be used to accelerate business growth and traffic monetisation, as Mobvista looks to increase its coverage in North America, Europe, South Asia and Southeast Asia.
The company also intends to use software development and big data to further improve the efficiency of its mobile advertising.