Chinese Investors Buy Media.net for $900 Million7:53 PM
Consortium of Chinese investors buy Media.net. It’s the third-largest ad tech deal, company says. Advertising technology startup Media.net s...
Consortium of Chinese investors buy Media.net. It’s the third-largest ad tech deal, company says. Advertising technology startup Media.net said Monday it had been acquired for about $900 million in cash by a group of Chinese investors.
Media.net manages the insertion of "contextual" ads on Yahoo and Bing.
Media.net specializes in tailoring ads to a specific website. It relies for this on the content displayed on the page. Yahoo! and Microsoft search engine, Bing, are among the main services using Media.net. "Contextual" ads are also authorized by several publishers, self-learning websites and ad networks.
The company, based in Dubai and New York, is headed by the technological entrepreneur Divyank Turakhia. In 2015, it reported revenues of 232 million, more than half from mobile users. Media.net, which received seven bids for the sale, says that the operation is the third largest market acquisition of advertising technology.
The group of investors who purchased the company is run by Zhang Zhiyong, president of the Chinese telecommunications company Miteno Beijing Communication Technology.
Zhiyong said the company wants to accelerate its shift to mobile ads Media.net leveraging technology. Zhiyong also noted that Miteno will now focus on expanding the presence of Media.net in China, after the company's successful career in America.