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Mobile Ad Start-up xAd Takes Fresh $50M

Mobile ad start-up xAd just raised $50 million to rapidly expand its location-based ad targeting technology. “xAd is already profitable, [and] growing fast,” TechCrunch reports. Looking ahead, however, “Location has the potential to become the next multibillion dollar business,” xAd CEO Dipanshu Sharma tells TechCrunch. “Today, it already serves ads that cover 40 billion impressions per month across some 7 different ad networks,” by Sharma’s reckoning. The round was led by Institutional Venture Partners.

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