AdMob raises 12.5 Million in series C extension funding
AdMob was the center point of the mobile news recently. We have recently mentioned that they just closed round B funding and today they announced to close additional 12.5 million round C funding lead by Draper Fisher Jurvetson’s (DFJ) Growth Fund and Northgate Capital. This bring the company funding to the total of $28.2 million. Being able to raise so much money in such a short period of time, especially in this economic downturn, says a lot about investors belief in the company.
While being profitable, the company lists the following reasons to recent funding series, mainly to allow future grown in this economic downturn, which hit especially hard the advertising businesses:
“We believe that now is a critical moment for us to cement our leadership position by making the investments that will help us to come out of this challenging economic environment even stronger than when we went in. As mobile Web and application usage continues to grow rapidly worldwide, and smart phones – from the iPhone to the G1 – gain in market share, we see a real opportunity to expand the mobile advertising market.”
Related posts:
- Admob improves the dashboard interface for publishers and advertisers
- AdMob launches ad units for Android with its Android SDK
- Apple buys Quattro Wireless in response to Google buying AdMob
- AdMob lowering the minimum bid for many ad targeting options
- AdMob launches mobile version of the website
