Sky-mobi and Sohu Sign Advertising Agreement
March 23 2011 - 7:30AM
Sky-mobi Limited (Nasdaq:MOBI) ("Sky-mobi" or the "Company"), the
leading mobile application store and mobile social network
community operator in China, today announced that the Company has
entered into an advertising contract with Sohu, one of the leading
Chinese online destinations.
Under the terms of the one-year agreement, Sky-mobi will publish
advertisements for Sohu's advertising clients on Sky-mobi's MRP ad
network. Sky-mobi will be paid at an agreed minimum target rate,
and will share revenue with Sohu that exceeds the minimum target
rate.
"We are tremendously excited about our contract with Sohu which
represents an important step to extend our business model into the
promising mobile advertising space," said Michael Song, Chairman
and CEO of Sky-mobi. "As the top mobile application store
platform in China, it is a natural fit for us to work with Sohu,
one of the most popular portals in China. Our MRP platform is
pre-installed on hundreds of millions of handsets across China and
is viewed by vast numbers of consumers. We are confident that
Sohu's advertising clients will benefit tremendously from the
exposure they will get through this arrangement."
Sky-mobi works with handset companies to pre-install its Maopao
mobile application store on handsets, including MRP, and with
content providers to aggregate and offer a range of applications
and content to end-users. Its Maopao store is pre-installed in over
6,600 handset models and is compatible with many different hardware
and operating system configurations. The Company collects
application store revenues through carriers and their mobile
service providers and in turn, shares these revenues with mobile
service providers, handset companies and content providers. The
standardization of its application store software and Sky-mobi's
proven track record of generating revenue for our partners has
enabled it to build what the Company believes is China's
leading mobile application eco-system with over 800 partners,
including over 450 handset companies, over 250 content providers,
and over 110 mobile service providers and 10 independent payment
processing companies.
About Sohu.com
Sohu.com Inc. (Nasdaq:SOHU) is China's premier online brand and
indispensable to the daily life of millions of Chinese, providing a
network of web properties and community based/web 2.0 products
which offer the vast Sohu user community a broad array of choices
regarding information, entertainment and communication. Sohu has
built one of the most comprehensive matrices of Chinese language
web properties and proprietary search engines, consisting of the
mass portal and leading online media destination www.sohu.com;
interactive search engine www.sogou.com; #1 games information
portal www.17173.com; the top real estate website www.focus.cn; #1
online alumni club www.chinaren.com; wireless value-added services
provider www.goodfeel.com.cn; leading online mapping service
provider www.go2map.com; and developer and operator of online games
www.changyou.com.
About Sky-mobi Limited:
Sky-mobi Limited operates the leading mobile application store
in China as measured by revenues in 2009, according to Analysys
International. The company works with handset companies to
pre-install its Maopao mobile application store on handsets and
with content providers to provide users with applications and
content titles. Users of its Maopao store can browse, download, and
enjoy a range of applications and content, such as single-player
games, mobile music, and books. The Company's Maopao store enables
mobile applications and content to be downloaded and run on various
mobile handsets with different hardware and operating system
configurations. The company also operates a mobile social network
community in China, the Maopao Community, where it offers mobile
social games, as well as applications and content with social
network functions to its registered members. The Company is based
in Hangzhou, the People's Republic of China. For more information,
please visit: www.sky-mobi.com.
The Sky-mobi Limited logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=8458
CONTACT: Sky-mobi Limited
Mr. Carl Yeung, CFO
Phone: +(86) 571-87770978 (Hangzhou)
Email: ir@sky-mobi.com
CCG Investor Relations
Mr. Ed Job, Sr. Account Manager
Phone: +(86) 21-3133-5075 (Shanghai)
Email: ed.job@ccgir.com
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