AdMob Bucks the Downtrend

AdMob is a rare start-up these days: its venture backers are happily forking over more money, it is hiring instead of laying off employees and it is cash-flow positive. The mobile advertising network, which places ads on Web sites people view on their phones, announced Wednesday that it had raised $15.7 million in its third round of financing from Accel and Sequoia Capital. That comes on top of the $18.5 million AdMob has already raised from the two companies. More.