Mar 25, 2015
BEIJING, March 25, 2015 /PRNewswire/ -- Cheetah Mobile Inc. (NYSE: CMCM) ("Cheetah Mobile" or the "Company"), a leading mobile Internet company that provides mission critical applications to help make the Internet and mobile experience speedier, simpler, and safer for users worldwide, today announced that it has made a strategic investment in Nanigans, Inc. ("Nanigans") as the lead investor in Nanigans' US$24 million Series B financing.
Headquartered in Boston, Nanigans is a leading worldwide provider of social and mobile advertising software and a pioneer in advertising automation software. It currently has offices in New York, San Francisco, London, Singapore, and Sydney. Nanigans offers a highly scalable advertising automation software to power in-house marketing teams. Its customers run over US$500 million in annualized ad spend using its software.
Mr. Sheng Fu, chief executive officer of Cheetah Mobile, stated, "We are pleased to announce this strategic investment in Nanigans. Nanigans plays an important role in the social and mobile advertising ecosystem, as evidenced by its strong customer base and the large amount of ad spend managed using Nanigans' software. Investing in Nanigans advertising automation software is a significant step for us as we actively build up our advertising platform and enhance our capabilities globally. With this funding by Cheetah Mobile, Nanigans will be able to quickly expand its social and mobile publisher channels. Cheetah Mobile and Nanigans have also signed a strategic commercial agreement, and we look forward to working closely with the Nanigans team to create the world's first-class tools for advertisers and publishers."
About Cheetah Mobile Inc.
Cheetah Mobile is a leading mobile internet company with approximately 395.4 million mobile monthly active users in December 2014. Its mission critical applications, including Clean Master, CM Security, Battery Doctor and Duba Anti-virus, help make the internet and mobile experience speedier, simpler, and safer for users worldwide. Cheetah Mobile is the publisher of Clean Master, the #1 mobile app in the Google Play Tools category worldwide by monthly downloads in December 2014, according to App Annie.
The Company also provides various platform products such as Duba.com, Cheetah browser, game centers, and mobile app stores to provide multiple user traffic entry points and global content distribution channels for its business partners.
About Nanigans, Inc.
Nanigans advertising automation software powers the world's leading in-house performance marketing teams. Offered as Software-as-a-Service, Nanigans software features programmatic media buying, predictive revenue optimization, and real-time business intelligence across today's most valuable social and mobile channels.
Safe Harbor Statements
This press release contains forward-looking statements. These statements, including management quotes and business outlook, constitute forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. These forward-looking statements include, but are not limited to, statements about: Cheetah Mobile's growth strategies; Cheetah Mobile's ability to retain and increase its user base and expand its product and service offerings; Cheetah Mobile's ability to monetize its platform; Cheetah Mobile's future business development, financial condition and results of operations; competition from companies in a number of industries including internet companies that provide online marketing services and internet value-added services; expected changes in Cheetah Mobile's revenues and certain cost or expense items; and general economic and business condition globally and in China. Further information regarding these and other risks is included in Cheetah Mobile's filings with the U.S. Securities and Exchange Commission. Cheetah Mobile does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
Investor Relations Contact
Cheetah Mobile Inc.
Helen Jing Zhu
Tel: +8610 6292 7779
Tel: +1 (646) 417-5395
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cheetah-mobile-announces-strategic-investment-in-nanigans-300055751.html
SOURCE Cheetah Mobile, Inc.