Handset Media Firm Receives USD 10 Mln JV Funding

Sina Tech, 1/20/09

Mobile new media platform technology and operating services provider Beijing Vivame Technology Co, Ltd announced today the completion of first-round funding, with a total investment of USD 10 mln coming from Highland Capital, French VC firm Ventech and Edward Tian, former China Netcom GM and the chairman of the China Broadband Capital Partners (CBC) fund.

Han Ying, founder of Vivame, stated that the funds would be used toward the research and development of 3G products as well as toward cooperation with operators.

Vivame was established in January 2007, and has signed copyright agreements with 550 magazines. The company cooperated in 2008 with CCTV in the development of mobile video capabilities during the Beijing Olympics. Han also revealed that the company's team currently consists of more than 100 employees, with over 8 mln registered users. The company recorded revenue of RMB 10 mln in 2008.

Keywords: Vivame WVAS Highland Capital Ventech CCTV China Broadband Capital Edward Tian first-round funding VC wireless

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