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Allyes Plans $100 Million IPO By End Of 2006
February 14, 2006 |
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Allyes, one of the largest online advertising operators in China, is planning an IPO in the second half of this year in the hope of raising US$100 million.
Zhu Hailong, CEO of Allyes, says that despite the higher costs involved of the IPO in the US, it was more acceptable for the company to get listed there now that most of its investors and shareholders come from the country.
Set up in 1998, Allyes is the oldest and largest company in China that has been engaged in network advertisement research and development.
In 2005, Allyes received US$30 million venture capital from a partner fund between IDG Technology Venture Investments and Oak Investment Partners.
At present, Allyes holds 80% of the online advertisement market in China. Its AdForward software is being used by hundreds of commercial websites on the mainland.
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