Philippines Advertisers are getting their own ad-serving agency.
The Philippines CPA has signed a $10 million deal with AdHive, the ad tech company that operates in China.
AdHives CEO and founder Mark Lee said that he and the Philippines CSA will help advertisers “deliver quality, relevant and relevant ads across all types of audiences.”
This comes after the Philippines’ government in October passed legislation that allows companies to create a new “public cpa” to provide services for local advertisers, such as ad targeting.
The government hopes that this new agency will help the Philippines attract advertisers to its local market, and that its success will help drive more foreign investment to the country.
Advertiser-focused services are now increasingly common in the United States.
In 2015, Google launched AdWords for Publishers, a platform that allows publishers to share revenue with advertisers.
Last year, the New York Times launched AdSense, a service that allows advertisers to build an ad network for their website.
“We see the Philippines as a place where the government can make a big splash and drive new growth,” Lee told BuzzFeed News.
The move comes as the Philippines is currently in a tight spot.
The country has been struggling to cope with the effects of Typhoon Haiyan, a Category 5 storm that struck in the Philippines in late September.
Since then, many of its coastal cities have been damaged and thousands have died.
This is a major blow to the Philippines economy, and it has also left the government scrambling to find funds for rebuilding the country’s infrastructure and social services.
According to the government, the Philippines will need $5.5 billion in its 2017 budget for social welfare.
But according to AdHIVE CEO and co-founder Mark Lee, the government needs to spend this money on “other things,” such as education, healthcare, and public safety.
“They are doing everything they can to try to create jobs and economic growth, but if they are going to build a new agency, they need to put a big dent in that,” Lee said.
AdSense is a service operated by AdWords.
It allows advertisers with limited budgets to target advertisements to people who are using AdWords on their websites.
It’s a business model that’s seen significant growth over the past decade.
AdWords has grown from $5 billion a year in 2003 to $30 billion in 2017.
“It’s like a unicorn,” said Lee.
“AdWords has really exploded in the past few years and it’s just one of the great stories of the 21st century.”
But in the years since the Philippines signed the law allowing companies to use ad-sales platforms like AdHively, it’s not been the same.
AdMarket has struggled to find local advertisers and has been shuttered by AdHire in 2016.
Meanwhile, the CPA network AdmitAd has also struggled to attract advertisers.
The agency has struggled for years to find new advertisers to run its ads.
In 2017, AdMarket filed for bankruptcy.
It was one of several ad agencies that folded in the wake of the Typhoon Haiya disaster.
This year, AdHiveness filed for Chapter 11 bankruptcy protection, and AdMarket and AdHaven closed their doors.
But AdHIV has remained afloat, and the agency’s owners are hoping to raise another $25 million to keep it afloat.
“I don’t think that it will take [AdHive] five years to get back,” Lee, said.
“There are a lot of challenges in a fast-growing industry like this.
We are trying to find the right partners and partners are doing a great job of finding them.”
AdHiv has raised $30 million to stay afloat in 2017, according to a spokesperson.
In 2018, AdAd announced that it would start accepting new foreign direct investments from China.
The deal was finalized in November.