Beijing,
China, July 2, 2007
- Leading online advertising solutions provider madeforchina
announced today that it has changed its name to Wanmo
Performance Advertising after recently securing USD
4 million of investment from a consortium of strategic
investors. The financing will be used to enhance the
company's market-leading capabilities in delivering
performance-based advertising, and reinforce its existing
market leadership in the sector.
CEO Micah Truman selected the company¡¯s
new name Wanmo, literally translated as 'Internet strategy'
in Chinese, to reflect the company¡¯s expanded strategy,
which is to increase its market presence by broadening
services to include performance-based advertising while
maintaining market leadership in permission email marketing.
Performance-based advertising represents
one of the most significant developments in the advertising
industry in the past twenty years. It allows advertisers
to track performance and tie costs directly to results,
bringing them closer to their target consumers and ensuring
return on investment. The approach has already proven
a huge success in the United States and is starting
to emerge in China.
In China, the current market opportunity
for Wanmo is extremely attractive. Since 2000, China's
online community has grown by more than five times to
approximately 140 million users, second only to the
U.S, according to Internet World Stats. Advertisers
see this explosive growth as an providing an attractive
channel through which to reach their target customers
and are spending growing sums in response. Analysis
International reported that advertisers spent nearly
RMB 2.1 billion online in China in the first half of
2006, a figure that Wanmo expects to continue growing
rapidly as China's consumer markets continue to mature
and grow more sophisticated.
In response to this booming market,
and the increasing demand by advertisers in China for
performance-based advertising, several household names
in the online advertising industry have decided to invest
and partner with Wanmo to take part in this huge growth.
They include Executive Co-Founder of Advertising.com
Stein Kretsinger, leading marketing services firm, infoUSA,
email marketer Datran Media, and venture capital firm
Mustang Ventures.
Stein Kretsinger said of Wanmo and
his decision to partner with the
company: "It really was a no-brainer. I saw great
potential in the company and wanted to play a part in
their future growth. I feel like I have something to
contribute as well."
Rob McCormack of Mustang Ventures added,
¡°We have been working with the Wanmo team over the past
three years and believe that they are uniquely positioned
to leverage their strong existing relationships with
advertisers and advertising agencies and their proven
ability to generate results into a leadership position
in the online pay for performance market.¡±
Truman added, "We are delighted
to partner with these world class individuals and firms.
Their industry experience and expertise will bring value-added
service to our clients, and allow us to position ourselves
as the leader in performance-based advertising in the
China market. Wanmo is now fully equipped to take the
lead in performance-based advertising and transform
the industry in China."
About
Wanmo
Founded in 1997, Wanmo (formerly known as madeforchina)
provides performance based advertising solutions to
multinational clients that includes brands such as L'Oreal,
Ford, United Airlines, China Mobile and Lenovo. Combining
unique technology, a far reaching affiliate network,
expert project management and unrivalled content creation,
Wanmo provides clients with the means to achieve their
marketing goals online, enabling them to build brand
awareness, generate new business leads and close more
sales cost efficiently by using a pay for performance
model.
With headquarters in Beijing, Wanmo
is a market leader in performance based advertising
and, together with industry and government partners,
is leading China's online advertising industry to global
competitiveness.
For further details on performance based advertising
and the exciting role that Wanmo is playing in the growth
of this sector in China and worldwide, email: info@wanmo.com
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