iPinYou, a Chinese programmatic buying DSP, completed a 500m RMB (approx. $78m equivalent) Pre-IPO financing round.
The round was led by China Mobile Innovation Industry Fund, which was established by China Mobile and State Development & Investment Corporation, Beiguang Wenzi Gehua Fund and Shenzhen Capital Group.
The company intends to use the funds to expand its international business through industry consolidations and acquisitions and accelerate its growth into mobile, TV and outdoor segments.
Led by Grace Huang, founder and CEO, and Shen Xuehua, CTO, iPinYou operates a programmatic buying DSP platform in China which currently handles on average 18 billion ads daily. Its OPTIMUS™ System is a smart advertising and optimization platform that operates on the basis of ingesting and analyzing massive amounts of data. The platform can integrate with all major domestic ad exchange platforms, supporting mobile, PC and video ads as well as cross-platform.