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Chinese In-Bank Digital Media Firm Obtains Funding

Wowa, 2/04/10

China Merchants China Direct Investments (CMCDI) has signed a second-round funding agreement with InBank Media, a Beijing-based operator of digital ad displays in Chinese banks. InBank Media CEO Wu Mingshan said that this round of financing was worth upwards of RMB 100 mln, and, in addition to the funds from CMCDI, InBank's existing shareholders also increased their investments, resulting in a 14.51% stake for CMCDI. InBank Media has already begun planning for an IPO to come either this year or next, with the Nasdaq as its top target.

Wu said that the majority of the funds acquired through the two rounds of funding have been used to purchase hardware to support the expansion of the company's assets.

Keywords: InBank Media Wu Mingshan out-of-home display digital media IPO Nasdaq funding television China Merchants advertising second-round

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