AdMob Turns Profit, Aims To Boost Mobile Advertising

October 23rd, 2008

In what marks a positive sign in a struggling economy, AdMob on Wednesday announced it has achieved positive cash flow and secured a $15.7 million Series C investment fund.Led by Sequoia Capital’s Growth Fund — with existing investor Accel Partners also participating — AdMob intends to use the cash infusion to expand its market position in mobile advertising. The company has posted strong year-over-year growth. In fact, the mobile-advertising platform more than tripled the number of ads served on a monthly basis to 4.5 billion in September.

AdMob’s publisher network now includes more than 6,000 partners worldwide, including MySpace and MovieTickets.com. In September, AdMob ran more than 25 campaigns for brand advertisers, including CoverGirl, Toshiba and Comedy Central.

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