AdMob raises $15 mln, looks to expand

John Shinal · October 22, 2008 · Short URL:

Mobile ad network revenues surging, thanks to iPhone

 When we last spoke to AdMob CEO Omar Hamoui, he told us ad impressions and revenue were both growing about 10-fold annually.

Now the company is cash-flow positive and is looking to expand overseas.

It got a big boost for those plans this week when it raised another $15 million from Sequoia Capital, Accel Partners and other investors.

At the MobileBeat conference in July, Hamoui told the audience that he was getting tired of hearing people say that mobile ads had yet to take off.

"We're making money off this right now," said Hamoui, whose company sells both display ads and performance-based advertising.

The company also has a special program for developers who want to develop ads specifically for the iPhone, which generates CPM rates that are three times AdMob's overall rates.

With the Android phones coming out, look for the company to use that  platform to help propel still more growth.

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