Banking on the smartphone boom in the country, mobile advertising platform and game publishing company Mobvista announced that it is going to invest $100 million in its India operations over the next three years.
Started in 2013, the company has seen a rapid growth in a short span of two years, growing its business by 30 times. For Mobvista, India is a strategic market and the company wants to draw more attention, resources and focus to sustain and build upon the momentum it already has.
Currently boasting of clients like Flipkart, OLX, Jabong, Freecharge, Yatra and PayTM from India, the company is planning on opening its office here soon. Mobvista currently delivers over 10 billion daily ad impressions in more than 230 countries having it offices in Hong Kong, Guangzhou, Beijing and San Francisco with over 300 employees.
“Our ambition is to combine the synergies of global vision and local insight while focusing on emerging markets. The Indian market is poised to offer fertile soil to create businesses worth millions of dollars, turning it into one of the top 3 markets of mobile internet industry along with China and US,” Mobvista CEO Wei Duan said.
Its game publishing arm VStarGame has several games which have been released in South East Asia and Taiwan regions and plans to release more than 20 games this year
Mobvista received $10 million investment from NetEase (Round A) in October 2014 and another RMB 200 million from China’s top media firms (Round B).