Madhouse Inc. Receives Strategic Investment from Nokia Growth Partne

Madhouse Inc., China’s largest and most intelligent mobile advertising network, today announced that Nokia Growth Partners, part of Nokia’s venture capital arm, has recently completed an investment in the company.

Madhouse managed several mobile advertising campaigns for Nokia during the past year and is working closely with Nokia as it expands its Software and Services initiative in China.

“Having ran a number of campaigns with successful results together last year, Nokia is a satisfied mobile advertising customer of Madhouse,” says Dan Wong, who leads in Software and Services in China. “Madhouse’s intelligent mobile ad serving capabilities and its wide mobile ad network coverage complement Nokia’s global efforts in many ways. Nokia benefits from leveraging Madhouse’s mobile advertising partnerships and sales force, and gains insight into the development of China’s mobile advertising sector via the country’s market leader.”

“We are delighted to welcome Nokia Growth Partners as a new strategic investor in Madhouse,” said Joshua Maa, founder and CEO of Madhouse Inc. “Nokia’s global experience will provide us with invaluable support to strengthen our leadership position in China’s mobile advertising market. We have demonstrated and proven our capabilities through our collaboration with Nokia and will continue to develop our mobile advertising network and to deliver the industry’s most advanced mobile marketing solutions.”

“Madhouse is a promising company in an area of importance to Nokia and is our first investment in the region”, says Paul Asel, Partner at Nokia Growth Partners. “An investment in Madhouse extends an established Nokia relationship as well as a partnership with Gobi Venture Partners, an early stage venture firm focused on digital media investments in which Nokia invested last year. Madhouse is an example of how Nokia has benefited from the Fund of Funds program that Nokia launched in 2007.”

Madhouse is China’s largest and most intelligent mobile advertising network and is headquartered in Shanghai with offices in Beijing and Guangzhou. The Madhouse team consists of more than 170 professionals.

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