Monday 01-08-2016 15:29
Teads Secures $47m to Fund Asian Expansion and Acquisitions
Quesada: "It is time for us to become more deeply entrenched in the Asian markets"
Video ad specialist Teads
has raised $47m (£35.6m) of new debt financing from a bank syndicate including BNPP, Bank of China, HSBC, Banque Palatine and BPI. The cash will be used to fund the company’s expansion into the Asian market, and to acquire ad tech companies with complementary technologies and capabilities. In particular, Teads said it would consider smaller ad tech startups developing technologies that Teads can leverage to enrich its services to premium publishers and advertisers.
Teads already has a significant foothold in Japan and will expand into South-east Asia this year, and China next year. Former MEC China president Christian Guinot is joining Teads to drive the Asian operations from a newly created Singapore hub.
“We already have a strong presence in all major American and European markets, and in Japan,” said Teads CEO, Bertrand Quesada. “It is now time for us to become more deeply entrenched in the Asian markets, solidifying our worldwide operations to best serve our customers, brands, agencies, trading desks and publishers.”
Publishers participating in Teads’ outstream video advertising marketplace include The Washington Post, Forbes, Mashable, The Telegraph, The Guardian, Le Monde, Corriere della Sera, El Pais, Die Welt and Nikkei.