Rumor: Giant Acquires Directory Site 2345.com

China Business News, 10/28/10

An industry source has revealed that Chinese online game developer and operator Giant Interactive (NYSE: GA) recently acquired web directory site 2345.com. Sequoia Capital is also reported to have acquired shares in the site.

An upper-level manager at Shanghai Ruichuang Networks, parent company of 2345.com, was unwilling to comment on the sale.

Sources inside Giant confirmed the news, but refused to divulge any details of the transaction.

Editor's Note: As of July 1, online search giant Baidu's (Nasdaq: BIDU) content network, Baidu Union, stopped paying ad revenue shares to most of China's web directory sites, with the exception of 2345.com, YLMF.com, and 1616.net. More detail on the strategy behind this move, as well as on the operation of Baidu's own Hao123 and Hao222 web directory sites can be found in Marbridge's Q2 and Q3 2010 Chinese Paid Search Reports.

Keywords: Ruichuang M&A Giant Interactive Internet GA 2345.com online gaming online web directory

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