Touchmedia, a Chinese interactive in-taxi advertising and media platform, closed a round of financing of undisclosed amount.
Backers included existing investors Micky Fung (Founder/CEO) and Jubilant Worldwide Limited and new investor XO Group Inc. (NYSE: XOXO), the consumer Internet and media company for engaged couples, newlyweds and first-time parents.
The company will use the proceeds to continue to grow in China and internationally as well as develop additional advertising solutions that integrate with mobile applications.
Founded in 2003 by Fung, Touchmedia develops touchscreen media technology. Today, the company is the largest in-taxi media company in China, providing an innovative marketing platform which allows brands to engage consumers, building higher involvement for awareness, recall and response. It has over 50,000 interactive advertising screens installed in taxis throughout China that reach close to 70 million passengers every month.
FinSMEs
25/04/2014