Friday, June 8, 2012

Phorm's New Chinese Operation Valued at $155M

Phorm, one of the pioneers of behavioral advertising (background - here), restarts - this time in China.

The company announced it has "..entered into agreements to raise £20m via a subscription for a 20% equity stake in an operating subsidiary for Hong Kong and the People’s Republic of China (“Phorm China”). The equity subscription gives Phorm China a post-money valuation of £100m".

"At the end of 2011 it is estimated that China had in excess of 500m internet users, making it the world’s largest internet market. The total online advertising market in China was estimated to be $5.97bn in 2011, being the world’s third largest market".

See also "Romtelecom Launching Personalized Ad Insertion Service, Using Phorm" - here.

The company also announced its "intention to re-domicile the holding company of the group from Delaware to Singapore" (here).

See "£20m equity fundraising into Phorm China" - here.

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