Goldman Sachs has invested US$20 million and British venture-capital firm 3i US$10 million in the mainland's largest outdoor electronic advertisement company, Focus Media.
Set up in January last year, Focus Media has created a market by selling advertising space on plasma screens in more than 10,000 office buildings in 37 mainland cities as well as golf courses, bowling alleys and ice-skating rinks, with monthly revenue of nearly 40 million yuan.
People look at the screens in elevators, shopping centres, apartment buildings and other places where they are waiting or walking.
Focus Media aims to raise about US$100 million from a stock offering on the United States Nasdaq in the first half of next year.
Goldman Sachs (Asia) managing director Henry Cornell said his firm had made a detailed analysis of Focus Media, was full of praise at its remarkable growth and had confidence in the the new market.
'It has a unique commercial idea and model and excellent management,' he said.