Lin Jiali, marketing director of Shanghai-based LBS mobile advertising platform Vpon, recently revealed that the company has obtained USD 7 mln in funding. The funds will primarily be used towards goals such as expanding the company's workforce and improving technology.
Established in 2008, Vpon focuses on LBS mobile advertising targeting smartphone users. The company's LBS mobile ad network uses proprietary technology to deliver ads to a targeted geographic area, for example within one kilometer of a subway station. Since the platform was released in August 2010, it has grown to cover over 6 mln smartphone users. The company's major clients include McDonald's, Starbucks, Citibank, American Express, and Coca Cola.