Beijing Morning Post, 5/18/11
Shanghai-based online advertising firm MediaV announced that it has successfully obtained USD 50 mln in a third round of funding led by Quantum Strategic Partners and supported by GGV Capital and LightSpeed Venture Partners.
Over the past two years, MediaV has had a compound annual growth rate of 380%, and is currently partnered with more than 80 well-known domestic Chinese brands and large-scale e-commerce advertisers.
MediaV CEO Yang Jiongwei said, "Following this round of funding, we will continue to expand efforts in product and technical R&D, at the same time strengthening our ability to recruit new talent, and making suitable investments and acquisitions in accordance with our development plan."
Editor's Note: For more information on this topic, please see "MediaV Lands RMB 100 Mln Second-Round Funding" MD 8/18/10 issue.