Neowiz Invests 4 Billion KRW in Mobile Advertising Platform Company 'AdX'
[Asia Economy Reporter Buaeri] Neowiz announced on the 2nd that it has invested 4 billion KRW in 'AdX,' a company developing a mobile advertising platform.
AdX is an ad tech (advertising + technology) company that provides platforms and technologies to maximize advertising revenue within mobile games and app services. It became a subsidiary of Kakao Games in August.
Through this investment, Neowiz plans to collaborate on effective mobile advertising and revenue optimization for various mobile games currently in service.
Kim Seungcheol, Co-CEO of Neowiz, said, "We highly value AdX's solutions and expertise, which have a differentiated business model focused on maximizing advertising revenue," adding, "We look forward to long-term cooperation and synergy related to mobile game advertising monetization."
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Kang Yulbin, CEO of AdX, stated, "As the mobile advertising market is rapidly growing and game companies' interest is increasing, we will continue to invest in technology development."
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