Chinese Online Ad Targeter Yoyi Media Raises First Round From Steamboat Ventures

Beijing-based ad network Yoyi Media has raised first round led by Disney’s Steamboat Ventures and Gobi Partners. Online advertising is still expected to grow at a rapid pace throughout Asia. Three-year-old Yoyi expects to capitalize on that growth. The company plans to build up its ad platforms and refine its business strategy. Steamboat’s Perry Chui praised the collective experience of Yoyi’s senior management as well as the technical appeal of its targeting system. The investment in Yoyi is part of a continuing wave of funding and M&A activity in the Chinese ad market. Last month, for example, UK-based Aegis Media took a minority stake in Chinese ad agency Charm Communications. Release