Nokia keeps working on expanding its Software and Services division and just recently we caught a press release saying that the Finnish giant’s VC arm, Nokia Growth Partners, has invested in China’s largest and most intelligent mobile advertising network – Madhouse.
No financial details were given, but apparently Madhouse has already managed several mobile advertising campaigns for Nokia during the past year and is working closely with Nokia as it expands its Software and Services initiative in China. This should mean that the Finnish giant knows what it’s doing, or at least that’s the way I see it.
Commenting on the announcement, Nokia Growth Partners’ Paul Asel said: “An investment in Madhouse extends an established Nokia relationship as well as a partnership with Gobi Venture Partners, an early stage venture firm focused on digital media investments in which Nokia invested last year. Madhouse is an example of how Nokia has benefited from the Fund of Funds program that Nokia launched in 2007.”