Chinese e-commerce company, Alibaba has bought a majority stake in online marketing company, AdChina for an undisclosed deal amount. Post acquisition, AdChina will work with Alimama and Aliyun, Alibaba’s cloud computing business, in order to together create an end-to-end marketing service.
As per an ET report, Alibaba’s investment will help AdChina to enhance its competitive strengths in its existing businesses. Founded in 2007, Shanghai-based AdChina runs both supply-side platform as well as demand-side platform for those who sell ad space and for those who buy that advertising space. The firm places those ads in both mobile apps and websites.
AdChina has raised three rounds of funding till now from 6 investors. It had filed for a USD 100 million IPO in early 2012, but pulled out a year later.
Last year, Alibaba had acquired a 35% stake in Intime Retail, an offline retail company with presence throughout China, for USD 692 million. The company has made 20 investments till date including USD 700 million in Kuaidi Dache, USD 50 million in Peel, an undisclosed amount in Beijing Shiji Information Technology & MomentCam among others. Alibaba had received USD 2.7 billion in 6 funding rounds.
Image Source: TechinAsiaCategory Business Investments