Snowball Obtains USD 10 Mln in Second-Round Funding

DoNews, 6/05/13

Beijing-based stock market news website operator Snowball Information Technology announced recently that it has received USD 10 mln in second-round funding from Morningside Ventures and Sequoia Capital. With the new funding, Snowball CEO Fang Sanwen stated that the company's expenditures will remain concentrated on product R&D and staff recruitment, with the goal of enhancing user experience to increase the competitiveness of the company's products.

Snowball was founded in April 2010, and received angel funding early on from venture capitalist Charles Xue. The company received RMB 20 mln in first-round funding from Sequoia in 2011.

Editor's Note: For more information on this topic, please see "Snowball Confirms Funding from Sequoia Capital," MD 6/27/11 issue.

Keywords: online financial information Internet funding Morningside second-round Sequoia Capital Fang Sanwen Charles Xue Snowball

Feedback

Sending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily