China-based mobile ad tech firm Mobvista saw revenues of $296 million in 2016 making it the company's strongest year yet.
The revenues represent a 155% increase compared to 2015. Its total assets also tripled from $86 million in 2015 to $254 million in 2016.
Breaking this down further, Mobvista found that over 60% of its revenues were generated outside of China. Revenues in the US increased nine-fold, while sales in South Korea increased by 5x.
More than just UA
"2016 has been a record year for Mobvista, both in terms of financial performance and our growth as a company," said Mobvista Founder and CEO, Robin Duan.
"Mobvista has become more than just a user acquisition company. We have expanded our products and services along the value chain to the point that we can help brands on almost every aspect of their campaigns and publishers with traffic monetisation."
The firm secured a $100 million credit line with the Bank of China in February 2017 to facilitate a rapid expansion into overseas markets. At that time, it had reported revenues of $118 million for the first half of its 2016 financial year.