WEB GAME PLATFORM 51WAN.COM CLOSES ROUND II FINANCING

AsiaInfo Services
06-07-2011
Web Game Platform 51wan.com Closes Round II Financing

BEIJING, Jun 07, 2011 (SinoCast Daily Business Beat via COMTEX) -- 51wan.com, a Web game operator, just completed its second round of financing from Ventech and JAFCO Investment (Hong Kong) Ltd., revealed its top management, saying that the Web site also closed an acquisition of a 90% stake in a domestic peer at the end of last month.

In 2008, 51wan.com kicked off its first round of financing totaling USD 2 million from Sequoia Capital. The investor in the first round has not participated in the second round.

The raised capitals will be used in the promotion of the game platform of 51wan.com, research and development of new products and provision of capital support to game developers.

Earlier, rampant talks reported the equity acquisition intended to be kicked off by 51wan.com. The top management of the Web site confirms that the deal has been finished without unveiling the specific value.

51wan.com was founded in August 2007 and is currently one of the largest Web game platforms in China. By far, its registered users have topped 20 million.

Source: www.163.com (June 07, 2011)

KEYWORD: BEIJING INDUSTRY KEYWORD: Internet & Online Services & Media SUBJECT CODE: Internet & Online Services
Portal Software
SinoCast China Business Daily news
Web game
financing
Web site
acquisition
platform

Copyright 2011 AsiaInfo Services (via Comtex). All rights reserved