Advertising - Friday, July 30, 2010
Silverlake Buys Majority of Chinese Ad Net AllYes For $124M
China's Focus Media Holding is cashing out part of its AllYes stake, selling a 62% stake in Allyes Online Media Holdings to PE firm Silver Lake for $124M.
Allyes AdNetwork is a top Chinese online advertising service provider. Its business covers digital marketing, online media planning and buying, EPR, tracking and data mining, a media management platform, and performance based marketing solution.
Focus Media seems to have had a realization that they were not managing Allyes very well and hopes that Silver Lake can do better. Focus Media had paid a rumored $400M for Allyes.
The problem here, as we have noted, that advertisers just don't value the Chinese online market. If AllYes is the biggest player here and its valuation has fallen to a point where it can only fetch $124M for a majority stake, the market is not working.
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