BEIJING (AdAgeChina.com) -- Nokia has invested in Madhouse, a Shanghai-based mobile advertising network, through Nokia Growth Partners, part of Nokia's venture capital arm.
With the demand for mobile phones falling in Europe, and profits down compared to 2007, Nokia has increased its focus on China as well as Asia's other big emerging market, India.
Details of the investment, Nokia's first in Greater China, were not disclosed, but Paul Asel, a partner at Nokia Growth Partners, called Madhouse a "promising" company in China's mobile market, "an area of importance to Nokia."
Madhouse was founded by former TOM Online Exec VP Joshua Maa, now CEO, and Xia Rongrong, formerly with Ogilvy & Mather in Beijing, where he worked on the WPP Group agency's China Mobile account.
Madhouse covers over 70% of China's total mobile internet traffic and has set up partnerships with over 1,100 major web sites in the mainland.
Madhouse has managed several mobile advertising campaigns for Nokia during the past year and still works closely with the Finnish mobile handset maker as it expands its software and services business in China, led by Beijing-based Dan Wong, Nokia's VP of sales and channel management multimedia in China.
Madhouse's intelligent mobile ad serving capabilities and its wide mobile ad network coverage complement Nokia's global efforts in many ways, said Mr. Wong. "Nokia benefits from leveraging Madhouse's mobile advertising partnerships and sales force, and gains insight into the development of China's mobile advertising sector via the country's market leader."
Return to AdAgeChina, click here