The world’s fastest-growing startup is the first to go public after raising $25 million in a $1 billion round
The fast-growing health advertising startup Dubuque Advertising is the latest startup to go private after raising a $25.2 million round led by the Chinese investment bank CITIC, according to a regulatory filing filed Friday.
Dubuque’s founders, Jeff and Amanda Mascarenhas, were inspired by the need for a more personalized advertising solution, the filing said.
The Mascareres are currently focused on expanding their business model by offering their service as a digital ad agency.
Dubuques product offers include personalized health messages, personalized health alerts and personalized ad campaigns tailored to the customer’s individual needs, according the filing.
“Dubuques goal is to provide a holistic solution that can improve health care for consumers, provide personalized health advertising and deliver personalized health services to all users,” DubuQue said in a statement.
The company raised an additional $10 million through an initial public offering, according company spokesperson.
Dubus’ CEO, Daniel Lien, previously told Bloomberg that Dubuq was an “enthusiastic fit” for the company’s focus on advertising and digital media.
In February, DubuQe raised $20 million in venture capital from Google Ventures, Andreessen Horowitz and Kleiner Perkins.
Dubueque is a Chinese-based company founded in 2015 and listed on the New York Stock Exchange under the ticker symbol DUB.