Digital Advertising Service Yoyi Digital Receives US$20M Investment from Guangzhou Daily Media
Yoyi Digital, China’s leading provider of multi-screen programmatic buying and marketing solutions for advertisers and media publishers, has received a US$20 million strategic investment from Guangdong Guangzhou Daily Media (SZ:002181), one of China’s largest media groups and the publisher of two popular mainstream newspapers – Guangzhou Daily and China Business News.
The investment will be used to establish a joint venture company between the two parties. Under the deal, Guangzhou Daily will provide Yoyi Digital with extensive access to media channels and content, while Yoyi Digital will utilize its integrated advertising and programmatic buying solutions to optimize the newspaper’s advertising system.
Founded in 2007, Yoyi Digital specializes in developing online targeting technology and internet marketing services. The company provides both impression-based and performance-based advertising and has developed a network of top publishers in China. Its demand side platform (DSP) enables marketers and brands to reach targeted audiences based on their demographics, behavior, expectations, time, and location.
Yoyi’s programmatic buying platform claims to have access to 10 billion displays, 1.2 billion mobile and near 1 billion video daily impressions each day by integrating Google, Taobao, Baidu and other ad exchange platforms in China. The Beijing-headquartered company also has support centers in Shanghai and Guangzhou.
The ongoing transformation of the media industry is seeing a decline in traditional media, especially the newspaper business, and the rise of new media channels. As a traditional media group, Guangzhou Daily Media made several investments and acquisitions last year in mobile gaming and outdoor advertising sectors to keep up with the digital age. The company is expanding into programmatic digital advertising through this investment.
According to research institute iResearch, China’s programmatic advertising market in 2014 was valued at RMB 4.84 billion (US$774 million) with an yearly growth rate of 216.5%, representing 8.9% of China’s total advertising industry. It is expected to be worth RMB28.27 billion by 2017, or 28.2% of the entire market.
“In the digital age, the concept of media has become increasingly fluid with the emergence of new communication modes. This has allowed brands to build deeper engagement with their target audiences,” said Roy Zhou, founder and CEO of Yoyi Digital. “With the convergence of media, content and advertising, the role of digital technologies is a game changer for advertisers and brands.”
Yoyi Digital has received Series A investment from Gobi Partners and Steamboat Ventures in 2010. Series B and Series C funding was secured from Oak Investment Partners and Fidelity, respectively.
Image credit: Yoyi Digital
Editing by Mike Cormack (@bucketoftongues)