Tianya Seeks Final Round of Pre-IPO Funding
China Business News, 6/11/08
Online community site Tianya is currently in talks with investors on what may be the final round of funding before a 2009 IPO. Tianya president Xing Ming predicted that this year there would be a large increase in funding, but only a small amount of stock transfer. Tianya's income has grown at between 200% and 300% in the last two years.
Xing said that Tianya's real profit model is the major brands advertising service launched at the start of this month. Tianya is already advertising the 7 Days Inn hotel chain and will take a percentage of all bookings. Xing estimated that in 2008, Tianya will earn over RMB 50 mln from large clients such as this.
On May 28 Google published its social application API Opensocial 0.8, with Tianya and MySpace China both listed as partners.
Keywords: 2008 2009 7 Days Inn online advertising funding Internet IPO online community Tianya Xing Ming Web 2.0 SNS
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