China's Cheetah Mobile recently announced a strategic investment in social mobile advertising software provider Nanigans.
Cheetah Mobile led the second round financing, and Nanigans will reportedly gain USD24 million from its financing. With the investment Cheetah Mobile realized another important deployment in the mobile sector.
Fu Sheng, chief executive officer of Cheetah Mobile, said that the company is establishing a mobile advertising platform and is actively improving its comprehensive strength in the international market. The strategic investment in Nanigans, a pioneer in marketing automation, represents an important step of the company. Meanwhile, Cheetah Mobile's investment will help Nanigans rapidly expand social mobile developer group.
Nanigans is a Boston-headquartered social mobile advertising software provider. It currently has offices in New York, San Francisco, London, Singapore, and Sydney. It provides an automated advertising placement system to marketing teams of corporations and the system helps clients realize over USD500 million advertising placements annually.
Cheetah Mobile also just acquired mobile marketing company MobPartner for USD58 million.