Brace Yourself: Mobile Advertising Company AdMob raises USD 15.7 million in Series C

So, I must ask. If a company is doing so well with billions of ads served each month and apparently profitable – why does it need more cash?

Now, as a blogger – usually, I would just phone AdMob and ask the company or the PR company – but I find myself being ignored by both. Deleted from the PR list and pushed into a bracket “she doesn’t say nice things about us – so let’s ignore her”.

Does anyone care? Am I being over sensitive? Well, I spoke to very senior people in AdMob (who I like a lot) about this and they said, “no”. I was not being ignored. They even sent an email around internally with me on CC requesting a briefing. But again, no response – so I have to say – I must be on the S list.

But that isn’t going to stop me. I don’t need scoops – I have used AdMob, I have seen the improvements. I am slightly positive on the AdMob Medio announcement at CTIA.

But  – because no one internally (on a blogger level) talks to me – I am going to voice my concerns here.
 
AdMob says: We have received USD 15.7 million in funding led by Sequoia Capital’s Growth Fund and Accel Partners.
Bena says: Great. Why do you need the money?

AdMob says: Accelerating the growth of worldwide operations by hiring local staff in key markets and adding new language interfaces, with an emphasis in Western Europe, India, South Africa and Japan

Bena says: I asked AdMob (at a conference in London) if the company had Global reach out of the USA and it said yes. Me thinks that was a lie if Western Europe and South Africa are published in the statement above. Japan is an understandable given.

AdMob says: Deepening the investment in the company’s mobile technology platform, including its targeting, optimization and ad serving algorithm
Bena says:Ad serving algorithm? I agree the AdMob interface has increased hugely but does it need an algorithm? Targeting and optimisation have always taken second place to pushing traffic. Me thinks that this sounds good but means little.

AdMob says: Expanding the breadth of offerings for both publishers and advertisers
Bena says: Thank God.

AdMob says:Increasing leadership position in the U.S. by growing AdMob’s sales and business development teams

Bena says:Ahhh. So AdMob is going to make a bigger point of going on-portal and attracting niche players and MVNO’s as publishers?

From the Press Release:
“Today AdMob reaches more consumers on their mobile phones through our publisher network than any of the major Internet portals or search services, and this is just the beginning,” said Omar Hamoui, Founder and CEO, AdMob. “We chose to raise this new round of funding to continue to grow both the mobile advertising market and AdMob’s clear advantage in it by investing in the technology, operations and team that have set the bar for the mobile industry.”

“AdMob has surpassed the largest names in digital advertising to become the world’s biggest mobile ad network in just two short years,” said Jim Goetz, Partner, Sequoia Capital. “AdMob has tapped into the exploding market of publishers creating great mobile content for consumers and the advertisers eager to interact with those engaged users. AdMob is well capitalized and has achieved cash flow positive results, giving them a unique opportunity in this difficult economic climate to aggressively capture market share. They have some of the same qualities that we saw in Google, Yahoo!, YouTube and Apple, including their exceptional team and powerful technology platform.”

What we think?
From the bottom of my heart – congratulations AdMob. I have tracked the business from day one and I use AdMob for advertising regularly. But questions remain un-answered. I know from experience how hard it is to raise money and this is a great achievement. But by ignoring me or not speaking to a blogger and user – makes me scared that something is being hidden. There is too much positive pr on AdMob.

Just don’t like the exclusion strategy