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In the first quarter of 2007, Wanmo received a USD4 million investment from Mustang Ventures (an international venture capital firm), InfoUSA (a NASDAQ listed direct marketing company), Datran Media (a leading US based performance marketing company), and Stein Kretsinger (a founding member of Advertising.com, which was sold to AOL in 2004 for 450M USD). Rob McCormack, a partner in Mustang Ventures, and Stein Kretsinger both sit on Wanmo's board. Wanmo chose to take this investment in order to rapidly expand and lead the performance advertising market in China. The bulk of this money is being spent on expanding the Wanmo team, and radically upgrading our technology platform.
Venture capital companies were interested in Wanmo because of it's experienced management team, track record of profitability, and its extensive client list which includes Ford, Nokia, Bausch and Lomb, Lenovo, Li Ning, Haier, and Audi. |