GUANGZHOU, Feb. 15, 2017 /PRNewswire/ -- Bank of China granted almost $100 million credit facility to Mobvista, a global leading mobile marketing company, marking the largest credit facility in this industry of China.
"For an asset-light Internet company, the trust behind the strategic cooperation with Bank of China wasn't easy to build," said Mobvista's founder and CEO Wei Duan. The credit facility represents not only Bank of China's recognition of Mobvista's past performance, but also its confidence on Mobvista's future.
As the largest mobile marketing platform in Asia, Mobvista started operation in 2013 and focuses on providing user acquisition and traffic monetization services to developers across the world. On Nov. 25, 2015, Mobvista went public at National Equities Exchange and Quotations (stock code: 834299), becoming China's first stock in overseas mobile marketing area.
Among the Top100 companies at NEEQ by market cap, Mobvista ranked the 24th, the highest in mobile marketing industry. According to its latest half year earnings report released at the end of August 2016, Mobvista's revenue reached $118.174 million and net profit of $11.525 million, maintaining its No.1 position in the mobile marketing industry.
In May 2016, Mobvista completed its first private placement at nearly $80 million (RMB 520 million). With the money raised, Mobvista acquired NativeX, an American ad company, and GameAnalytics, a famous European mobile game analytics platform, in February and July respectively.
At the signing ceremony, Mobvista's founder and CEO Wei Duan said: "Across the world, over 80% Internet users are connected via smartphones and the rapid growth mobile Internet over the past three years offers historic opportunities to global mobile marketing industry. Today, the industry has entered M&R stage and Mobvista is one of few that can participate in. We acquired two companies in America and Europe along the industry chain and made substantial breakthroughs in overseas markets through organic growth. This credit facility from Bank of China will further help us accelerate expansion in overseas markets."
As the most internationalized and diversified bank in China, Bank of China provides financial services in China and 46 other countries and regions. From 2012 to 2015, Bank of China increased its overseas assets by 54.06% and continued to diversify, strongly supporting its cross-border M&As and M&A financing and loan businesses in the "Go out" trend.
According to Wei Duan, Bank of China is Mobvista's largest bank partner in 2016 from perspectives of RMB deposit and loans, USD loans and cross-border settlement. With the support from Guangdong Branch of Bank of China, Mobvista has built a relationship with Bank of China's branches in Seoul, Brussels, Hong Kong, New York and Chicago.
"Mobile marketing is an emerging industry with great momentum. Today's credit facility is based on the recognition to mobile marketing industry, which is in line with Bank of China's commitment to become an efficient and professional partner addressing all demands of small and medium businesses," said Bank of China.
Mobvista is the world's leading mobile marketing platform providing user acquisition, analytics and monetization solutions to worldwide mobile developers and brands. As the largest mobile ad tech company in Asia, Mobvista's comprehensive solution has empowered over 1000 direct global advertisers in reaching and engaging consumers across the world through performance-based ads, ASO tools and more. For developers, Mintegral, the native and video ad mediation platform, has helped 500+ developers in maximizing ad revenue with its premium ad sources mediation, diverse native ad formats, and smart dynamic algorithm.
Recognized as the "Top 25 Mobile Advertising Partner Report for 2016" by TUNE, Mobvista has targeted traffic from 243 countries and regions, reaching over 10 billion daily impressions with its unprecedented technology innovation and excellent customized service. Mobvista was listed on the NEEQ in November 2015, with nearly $1 billion. It has nearly 500 employees with offices in 12 cities across the world.
For additional information, visit www.mobvista.com.