Wanmo Secures USD 4 Million to Take the Lead in Performance-based Advertising in China

Beijing, China (PRWEB) July 6, 2007 - Leading online advertising solutions provider madeforchina announced today that it has changed its name to Wanmo Performance Advertising after recently securing USD 4 million of investment from a consortium of strategic investors. The financing will be used to enhance the company's market-leading capabilities in delivering performance-based advertising, and reinforce its existing market leadership in the sector.

CEO Micah Truman selected the company's new name Wanmo, literally translated as 'Internet strategy' in Chinese, to reflect the company's expanded strategy, which is to increase its market presence by broadening services to include performance-based advertising while maintaining market leadership in permission email marketing.

Performance-based advertising represents one of the most significant developments in the advertising industry in the past twenty years. It allows advertisers to track performance and tie costs directly to results, bringing them closer to their target consumers and ensuring return on investment. The approach has already proven a huge success in the United States and is starting to emerge in China.

In China, the current market opportunity for Wanmo is extremely attractive. Since 2000, China's online community has grown by more than five times to approximately 140 million users, second only to the U.S, according to Internet World Stats. Advertisers see this explosive growth as an providing an attractive channel through which to reach their target customers and are spending growing sums in response. Analysis International reported that advertisers spent nearly RMB 2.1 billion online in China in the first half of 2006, a figure that Wanmo expects to continue growing rapidly as China's consumer markets continue to mature and grow more sophisticated.

In response to this booming market, and the increasing demand by advertisers in China for performance-based advertising, several household names in the online advertising industry have decided to invest and partner with Wanmo to take part in this huge growth. They include Executive Co-Founder of Advertising.com Stein Kretsinger, leading marketing services firm, infoUSA, email marketer Datran Media, and venture capital firm Mustang Ventures.

Stein Kretsinger said of Wanmo and his decision to partner with the company: "It really was a no-brainer. I saw great potential in the company and wanted to play a part in their future growth. I feel like I have something to contribute as well."

Rob McCormack of Mustang Ventures added, "We have been working with the Wanmo team over the past three years and believe that they are uniquely positioned to leverage their strong existing relationships with advertisers and advertising agencies and their proven ability to generate results into a leadership position in the online pay for performance market."

Truman added, "We are delighted to partner with these world class individuals and firms. Their industry experience and expertise will bring value-added service to our clients, and allow us to position ourselves as the leader in performance-based advertising in the China market. Wanmo is now fully equipped to take the lead in performance-based advertising and transform the industry in China."

About Wanmo

Founded in 1997, Wanmo (formerly known as madeforchina) provides performance based advertising solutions to multinational clients that includes brands such as L'Oreal, Ford, United Airlines, China Mobile and Lenovo. Combining unique technology, a far reaching affiliate network, expert project management and unrivalled content creation, Wanmo provides clients with the means to achieve their marketing goals online, enabling them to build brand awareness, generate new business leads and close more sales cost efficiently by using a pay for performance model.

With headquarters in Beijing, Wanmo is a market leader in performance based advertising and, together with industry and government partners, is leading China's online advertising industry to global competitiveness.

For further details on performance based advertising and the exciting role that Wanmo is playing in the growth of this sector in China and worldwide, email: info @ wanmo.com or Malina @ madeforchina.com

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