April 26, 2024

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[THE INVESTOR] Yello Digital Marketing, the digital marketing unit local mobile app aggregator Yello Mobile, on Oct. 24 said it has received US$15 million investment from Partners For Growth, the private equity arm of US-based SVB Financial Group.

With the secured funds, Yello Digital Marketing said it plans to invest in purchasing shares of its affiliates to consolidate control within the group.

“Through this investment, we have received high marks on our business model, which combines various companies that lead digital marketing, and its synergy,” said Lee Sang-seok, CEO of Yello Digital Marketing. “In order to reinforce our synergy into the next level, we will focus on strengthening our businesses to become a leading digital marketing firm in Asia.”

Yello Digital Marketing is comprised of 18 firms that specialize in digital marketing in Asia. It recently acquired Singaporean Gushcloud, Indonesian adtech company Adplus and local firms Adqua and Futurestream Networks. 

By Ahn Sung-mi (sahn@heraldcorp.com)