BuySoftware Negotiating Second-Round Funding

21st Century Business Herald, 4/05/08

Gu Yingzan, CEO of online software retailer BuySoftware.cn, announced recently that his company was beginning negotiations for its second round of financing, which he estimated would come in at USD 5-8 mln. Following the completion of this second round, the stake in the company held by its management team would come in at approximately 70%.

BuySoftware.cn was founded by Shanghai Ruanzhong Information in May 2005, with approximately USD 1 mln in angel investment. The company bought out and/or represented more than 30 overseas shareware programs including WinRAR and Fineprint; users who were pleased with the software after downloading and evaluating it could pay Ruanzhong for a license for the software. Reportedly the company earned several million yuan last year in sales revenues, and had more than 50,000 registered users. The company plans to list in 2010.

Keywords: Gu Yingzan BuySoftware funding Shanghai Ruanzhong Information B2C e-commerce VC Internet second-round software

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