Sina Tech, 2/15/11
Beijing-based internet advertising agency Yoyi Media recently announced that it had obtained USD 20 mln in second-round funding from a group of investors led by Oak Investment Partners. First-round investors Steamboat Ventures and Gobi Partners also participated in this round of fundraising.
The funds will be used to improve Yoyi's original video content and rich media advertising platform. Ren Riley, general partner at Oak Investment Partners, will join Yoyi's board of directors once financing is complete.
Editor's Note: For more background on this topic, please see "Yoyi Media Obtains USD 12 Mln in First Round Funding" MD 2/23/10 issue.