MobGold, which provides platforms for mobile advertising and mobile transaction solutions, has announced that Fast Global Investments, an expansion-stage venture capital firm, has made a strategic $12 million (7.4 million) investment in the company's series B round of financing. The new investment has been planned for product development, marketing and market expansion. The company forms strategic partnerships in North America, Europe, Asia and Africa, with access to over 150 network operators and 500 million mobile users around the world.
MobGold has made huge strides over the past year to solidify its position as a leading mobile advertising company," says MobGold CEO and President, Alan Chang. Global Investments' venture in MobGold is strategically significant for the industry at large, and it validates the efforts we've made to make MobGold the thriving company it is today."
MobGold develops and operates MobGold Network, a mobile advertising network and mobile transaction solution. The network enables publishers, network operators, web portals and mobile phone retailers to monetize their mobile traffic, while at the same time allowing advertisers to market their products and services.