AdMob Dials Up Funding from Sequoia Capital, Adds Investors to Board of Directors

By: Business News

AdMob, Inc., operator of a global online mobile ad network that generates over 250 million page views per month, announced today that it's received Series A funding from Sequoia Capital. The company, formed in early 2006, will use the capital to support continued rapid growth, to expand sales and marketing efforts, and to accelerate the development of its Web-based products and services. AdMob CEO Omar Hamoui also announced that the company has added two investors to its board of directors -- Jim Goetz of Sequoia Capital, and Maynard Webb, prominent Silicon Valley investor and former COO of eBay.

"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," Hamoui said.

Commenting on joining the board, Webb said, "I joined AdMob because I was impressed by the leadership team and the traction they've gotten as a new monetization model in the mobile world."

Goetz concurred, "AdMob is fundamentally changing the mobile Web. Omar Hamoui and his team have built an exceptional business in a very short time. My partners and I are proud to give AdMob our support."

Separately, the company confirmed that global brands, including eBay Wireless and Nokia, are actively participating in the AdMob network. Bonfire Media, operator of eBay Wireless, began using the AdMob marketplace to promote its mobile applications earlier this year. "We're really pleased with the results. AdMob's marketplace helps us reach our target customers very effectively," Alex Poon of Bonfire Media said.

To build its advertiser base further, the company announced it's extending the $20 free advertising promotion it launched last week (http://www.admob.com/250million). "AdMob puts big and small advertisers on a level playing field in an open marketplace. Offering new advertisers $20 ad credits has turned out to be a great idea to help them get started on the marketplace," Hamoui explained.

About AdMob

AdMob is the world's largest mobile advertising marketplace. Founded in 2006, AdMob allows advertisers to reach their customers on the mobile Web and publishers to increase the value of their mobile sites through advertising. AdMob offers both advertisers and publishers the ability to target and personalize advertising on more than 250 million page views per month in 150 countries. To learn more about AdMob, visit www.admob.com.

About Sequoia Capital

Since 1972, Sequoia Capital has provided startup venture capital to visionaries who want to turn ideas into enduring companies. As the "Entrepreneurs Behind the Entrepreneurs," Sequoia Capital partners have worked with such innovators as Sandy Lerner and Len Bozack of Cisco Systems, Jerry Yang and David Filo of Yahoo!, Larry Page and Sergey Brin of Google, Dan Warmenhoven of Network Appliance, T.J. Rodgers of Cypress Semiconductor, Steve Jobs of Apple Computer, and Larry Ellison of Oracle. The companies organized by Sequoia Capital now account for about 10% of the value of the NASDAQ.