Qatari online advertising giant QATAR online advertising services have raised an additional $2 billion in a new round led by China’s JD.com, the company said on Tuesday.
The round, led by Chinese investment firm JD.
Com, was led by Alipay.
“The new investment will be used to expand the QATARS network to support the growth of the Qatari market, which is the world’s largest by revenue,” the company stated.
“QATARS is a global leader in online advertising and is also the first online platform to offer its clients a unique and highly secure online advertising platform, which allows clients to reach the audience with real-time insights,” the QA and Quality Assurance (QAQ) department at JD.COM said in a statement.
The Qatar-based company also said it will continue to build on its strong track record in online and mobile advertising, and “in particular, on mobile ad serving.”
“This new funding will enable us to invest in the future of QATARI’s network and the services offered on it.
It also means that we can continue to expand our services to support clients worldwide,” QATARR said in the statement.
“With our existing scale, we will be able to build new and more scalable ad serving platforms in the coming years.”
Alipai, a leading global online advertising company, is a subsidiary of China’s Alibaba Group Holding Ltd.
JD.NET is also a Chinese internet search and advertising company.
The new round comes at a time when Qatar is battling to retain its international reputation as a world-class destination for tourism.
Last year, Qatar said it would spend $2bn on infrastructure, hotels and other infrastructure to support tourism.
“We have been investing heavily in the tourism sector to improve the quality of life and create a better quality of travel for all our guests,” Qatari Prime Minister Sheikh Hamad bin Jassim al-Thani said last year.
“This is why we decided to build a network that is connected to the whole world, including Qatar, to promote our country and its people and bring them the benefits of the tourism industry,” he added.
Qatar’s economy has boomed since the early 1990s, and it has become a major player in the Middle East.
The country has more than half the worlds population, with more than 1.7 million people living in Qatar.
The population is projected to double in the next decade to more than 3.3 million people.
The United Arab Emirates is Qatar’s biggest trading partner, with exports accounting for around 20% of its GDP.
Last month, Qatar was ranked the second-biggest oil exporter in the world, ahead of Saudi Arabia.
However, Qatar is also home to a large number of expatriate communities who have come to Qatar to escape poverty and repression in their home countries.