Mobile advertising network Yeahmobi has raised $100 million in funding for expansion of its business around the globe.
The Xian, China-based company raised RMB ￥639 million (about $100 million), and it is now valued at about ￥5 billion (about $720 million). The company will use it as working capital for its mobile ad business and as a reserve fund for future acquisitions. The investors in the private placement include Beijing Bohai Tongxin Private Equity Fund (RMB 120 million), Nanjing Huawen Hongsheng Startup Investment Fund (RMB 100 million), Shenzhen Qianhai Bochuang Private Equity Fund (RMB 60 million) and 11 others.
