Chinese online advertising agency, Allyes, a leading digital marketing and technology has just announced that it has received US$30 million in venture capital investment from IDG and Oak Venture Capital, according to a news item in the Shanghai Morning Post. Allyes CEO Zhu Hailong said that the company will use the investment to expand its business and solidify its position in China's online advertising industry. Allyes was founded in 1998 and had received early start-up investment from IDG in 2000.

The company is comprised of three operating units- a full service service interactive agency, a provider of digital marketing technologies and expertise, and a performance media affiliates group.