October 22, 2008
Madhouse Inc. Receives Strategic Investment From Nokia Growth Partners
SHANGHAI, China, Oct. 22 /Xinhua-PRNewswire/ -- Madhouse Inc., China's largest and most intelligent mobile advertising network, today announced that Nokia Growth Partners, part of Nokia's venture capital arm, has recently completed an investment in the company.
Madhouse managed several mobile advertising campaigns for Nokia during the past year and is working closely with Nokia as it expands its Software and Services initiative in China."Having ran a number of campaigns with successful results together last year, Nokia is a satisfied mobile advertising customer of Madhouse," says Dan Wong, who leads in Software and Services in China. "Madhouse's intelligent mobile ad serving capabilities and its wide mobile ad network coverage complement Nokia's global efforts in many ways. Nokia benefits from leveraging Madhouse's mobile advertising partnerships and sales force, and gains insight into the development of China's mobile advertising sector via the country's market leader."
"We are delighted to welcome Nokia Growth Partners as a new strategic investor in Madhouse," said Joshua Maa, founder and CEO of Madhouse Inc. "Nokia's global experience will provide us with invaluable support to strengthen our leadership position in China's mobile advertising market. We have demonstrated and proven our capabilities through our collaboration with Nokia and will continue to develop our mobile advertising network and to deliver the industry's most advanced mobile marketing solutions."
"Madhouse is a promising company in an area of importance to Nokia and is our first investment in the region", says Paul Asel, Partner at Nokia Growth Partners. "An investment in Madhouse extends an established Nokia relationship as well as a partnership with Gobi Venture Partners, an early stage venture firm focused on digital media investments in which Nokia invested last year. Madhouse is an example of how Nokia has benefited from the Fund of Funds program that Nokia launched in 2007."
About Nokia Growth Partners
Nokia Growth Partners is a leading global growth stage venture firm focused on mobile technology, services and media. Nokia Growth Partners is funded by Nokia to provide superior returns and investments into companies, firms, and people that are changing the face of mobility, communications, and the internet. Nokia Growth Partners works closely with the promising companies adding value through deep domain expertise and network in the mobility market combined with many years of venture investment experience. Nokia Growth Partners offers companies in which it invests a global engagement model through its presence in the U.S., Europe and Asia. See http://www.nokiagrowthpartners.com/ for more information.
About Madhouse Inc.
Madhouse is China's largest and most intelligent mobile advertising network and is headquartered in Shanghai with offices in Beijing and Guangzhou. The Madhouse team consists of more than 170 professionals. The company offers three key services:
MadServing(TM): A highly intelligent, fully-automated, in-house system that serves targeted ads to mobile websites and client media while providing detailed performance reports.
MadNetwork(TM): Composed of over 1,100 major publisher sites, MadNetwork is China's largest mobile advertising network and represents over 75% of total mobile internet traffic in China.
MadSolutions(TM): Innovative mobile marketing solutions and campaign management services such as mobile interactive messaging platforms, mobile website design and development, are tailored to maximize cross-media effectiveness and consumer interaction. Wireless applications include Bluecasting, and mobile 2-D barcode technology.
Madhouse is privately held and venture funded by TDF Capital, Gobi Ventures, and JAFCO Asia. Strategic investors include D2 Communications Inc. and Nokia.
For more information, please visit http://madhouse.cn/ . For more information, please contact: Ms. Wendy Wang Madhouse Inc. Corporate Communications 706 Cloud Nine Plaza, 1118 Yan An West Road, Shanghai PRC 200052 Tel: +86-21-61159760 Fax: +86-21-61159755 Mobile: +86-136-0187-7094 Email: [email protected]
CONTACT: Ms. Wendy Wang, Madhouse Inc., Corporate Communications, 706Cloud Nine Plaza, 1118 Yan An West Road, Shanghai PRC 200052, +86-21-61159760,Fax +86-21-61159755, Mobile +86-136-0187-7094, [email protected]