Xad wants to maintain a 20% per month growth rate and occupy the national market

According to foreign media reports, local mobile search and advertising network Xad local time in Wednesday announced a new round of financing to raise 4 million of dollars. Xad wants to maintain a 20% per month growth rate and occupy the national market.

Xad said the company would use the funds to expand its technology platform, management and local mobile advertising business. XAD was founded in 2001, the founder of Dipansu Shama (Dipanshu Sharma). Xad has repeatedly stated that its goal is to create a scalable local mobile advertising platform to become the "AdMob of the local mobile advertising field."

Xad to achieve this goal is not easy. Despite more than 1 million advertisers, Xad has less than 1 years to make a profit. But Xad says the company's profitability has improved steadily, with improved mobile search algorithms and the ability to develop technologies that identify user identities and locations.

"As the new round of financing coincides, the local mobile advertising market will continue to grow," Sharma said. The newly raised funds will help to increase our income-generating capacity. ”

Xad's new round of financing is for venture capital company Emergence. Jason Green, Emergence Capital partner Jensen Green, will enter the XAD board.

Market research firm Kelsey Group predicts that the local mobile advertising market will reach $213 million trillion this year, with more than $2 billion trillion in 2014.