China’s Top Mobile Ad Network, I-Media, Picks Up $20M From Kleiner Perkins, IDG


China is currently the largest mobile market in the world, and that is having a knock on effect on mobile investments into startups in the country: I-Media, a mobile ad network that claims to be China’s largest with over 100 million impressions per day and projected 2012 revenues of RMB 300 million ($47 million), today announced that it has picked up a $20 million Series B round of funding led by Kleiner Perkins Caufield Byers with participation from previous investor IDG Capital (an early investor in Baidu and Tencent, as well as hundreds of other companies), bringing the total raised by I-Media to $30 million.

I-Media’s CEO Shu Yi had actually noted the investment back in April but didn’t provide more details about investors or strategy at the time. Today, I-Media said it will be using the funding to grow its activities in the Chinese market as well as…

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