AdMob, land funding rounds

Mobile advertising company AdMob and e-commerce company each snag third-round funding, despite serving sectors that face a mounting challenge in this economy.

AdMob and reportedly have managed to go against the grain, landing additional venture funding rounds in sectors that are now under great pressure.

AdMob, which supplies banner advertising to mobile devices, received $15.7 million in a third round of funding led by Sequoia Capital and participation from existing investor Accel Partners, the company said Wednesday.

For AdMob, its funding round is particularly interesting, given it serves the advertising industry, which is currently facing challenging times in the tumultuous economic climate. In addition, its lead investor was Sequoia, which recently issued a dire warning to its portfolio companies to prepare for the worst.

Meanwhile, e-commerce site managed to raise a substantial $32 million in third-round funding in August, according to a report in TechCrunch. Menlo Ventures reportedly led the round, with new investor Crosslink Capital and all previous investors.

About the author

    Dawn Kawamoto covered enterprise security and financial news relating to technology for CNET News.


    Discuss AdMob, land funding rounds

    Conversation powered by Livefyre

    Show Comments Hide Comments
    Latest Articles from CNET
    Fashion forward: Yahoo acquires social-shopping site Polyvore