AdMob Gets Backed By Sequoia Capital, Adds to its Board of Directors
It has been announced that AdMob, a global online mobile ad network formed earlier this year, will be receiving Series A funding from Sequoia Capital. The capital will be used to support continued growth, expand sales and marketing efforts, as well as to accelerate the development of Web-based products and services.
In addition to the funding announcement, AdMob will also be adding two investors to its board of directors. Jim Goetz of Sequoia Capital and Maynard Webb, a Silicon Valley investor and the former COO of eBay, will be joining the board.
“Jim and Maynard are world-class business partners and their leadership will turbo-charge our growth. We’re lucky to have their talent and counsel,” AdMob CEO Omar Hamoui said in a statement.
AdMob has also confirmed that eBay Wireless and Nokia are actively participating in its network. To continue building its advertiser base and help advertisers get started on the marketplace, AdMob will be extending its $20 free advertising promotion that began last week.
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