Beijing – Yoyi Media, a provider of targeted online
advertising services in China, announced on Tuesday that it has closed a $20
million second round of venture capital financing.
Oak Investment Partners led
the round; previous backers Steamboat Ventures and Gobi Partners also
Founded in 2007, Beijing-based Yoyi says its ad platform is being
used by brands including Toyota, Dell, Microsoft and Adidas.
The company will
use the new funds for additional product development, as well as for sales and