Chinese Internet security company Qihoo 360 has implemented a strategic investment in the Internet advertising technology and service provider MediaV and become the controlling shareholder of the latter.
However, no financial details for the deal have been released yet.
Founded by Yang Jiongwei, former president of Allyes, in October 2009, MediaV is a targeted advertising technology service provider. It started as an Internet advertising agency and later entered the on-demand platform arena.
According to the customer list provided by MediaV, it mainly serves six industries, including e-commerce, networking service, finance, automobiles, lifestyle services, and 3C electronic appliance. Of those, e-commerce customers account for a major part of the company's business. Previous reports revealed that about 80% of the top 50 Chinese e-commerce websites are reportedly clients of MediaV.
From 2009 to 2011, MediaV completed three rounds of financing, gaining about USD66 million total investments from Lightspeed Venture Partners, GGVC, and Quantum Strategic Partners.
Zhou Hongyi, chairman of Qihoo 360, said that following the investment in MediaV, Qihoo 360 plans to combine its huge volume and user base with MediaV's advertising technologies to create a more powerful and efficient advertising ecosystem while improving the monetization speed of platform products.