Mobvista Affirms a Capital Investment of $100 Million for India within 2018
Bangalore, India – September 9th, 2015 – Mobvista, Asia’s leading global mobile advertising platform, today announced a $100 million investment for its India business within 2018. This announcement came at the back of the “Global Mobile Advertising Trend Forum” organized by Mobvista in Bangalore today. As a part of the forum Mobvista reiterated that India is evolving as a comprehensive market providing an open environment for all kinds of products and services with high net worth and will emerge as one of the top three markets of mobile internet industry along with China and US.
As one of the largest in the business in China, Mobvista started operation in the year 2013. In a short span of two years the company has grown its business by 30 times. Mobvista stated that as a part of their India business strategy, the company will establish a local India office in New Delhi by the end of 2015. The local presence will enable the company to deploy a more deep rooted business engagement with local partners and stakeholders. In addition to this, the company aims to actively focus on various other investment opportunities in the Indian market.
Mobvista Driving Breadth and Depth of collaboration with Indian Businesses
According to the IAMAI & KPMG Report “India on The Go – Mobile Internet Vision Report 2017”, India is projected to have 236mn mobile internet users by 2016. The Report further projects that mobile internet users in India will reach 314mn by 2017.
Marking a remarkable acceptance among Indian customers, Mobvista has grown its Indian business at a very fast pace. In a short span of just two years the company has built an impressive list of around twenty successful domestic clients including Flipkart, PayTM, OLX, Jabong, Freecharge, Yatra and Newshunt to name a few. Keeping up the pace, the company is working towards securing another fifty odd potential domestic clients in the country. For the majority of clients, Mobvista commands over 50% of their mobile ad network spending which is a clear indicator of their dominance in the total marketing budgets of organizations.
“Our ambition is to combine the synergies of global vision and local insight while focusing on emerging markets. The Indian market is poised to offer fertile soil to create businesses worth millions of dollars, turning it into one of the top 3 markets of mobile internet industry along with China and US. Given its unique character, India is a strategic market for Mobvista. We are witnessing a steep growth in the country and we are determined to draw more attention, resources and focus required to sustain and build upon this momentum. At this rate we are very positive we will have more and more domestic corporations in India turn to Mobvista in coming days,” said Wei Duan, CEO, Mobvista.
“India will not only see a surge in consumption of mobile internet, but also steer the evolution in mobile marketing industry worldwide. Given its experience and expertise Mobvista is uniquely positioned to monetize international traffic through mobile marketing by converging local-advantages and extending reach to global markets by sharing knowledge and resources,” said Kenny Ye, Director International Business Development & GM of UCWeb India. “We could foresee the power of mobile marketing and Mobvista has been instrumental in helping us maximize business value with respect to mobile advertising. We are confident that this partnership will yield us long term benefits.”
Mobvista has also built a remarkable customer base in its home country China. The Chinese advertisers include both premier Chinese internet companies like Baidu, Alibaba and Tencent, as well as innovative startups like Qiigame, APUS and LEOMASTER.