BlogChina, now called Bokee.com, the biggest blog portal in China, is raising $10 million in first round funding, as this interview with CEO Fang Xingdong says. The funding, to be announced next month, will have three American VCs, Hong Kong-based Softbank Investment International and a Chinese investor.
The ambitious aim of Bokee.com is to become profitable by the end of the year and list on the NASDAQ at the end of next year, Fang said. “My goal is to grow bigger than Sohu.com and Sina in terms of influence and number of visitors,” the thirty-six year old said. Sina and Sohu are China’s largest Internet portals, with 101 million and 57 million registered users respectively.
Fang forecasts revenue will jump to CNY30 million yuan ($3.6 million) this year, while the number of bloggers on the site will hit the 20 million mark by year-end.
Related:
– Correction: BlogChina’s Seed Funding Figure: $5 Million
– Chinese Blog Portal Aims For Nasdaq IPO
Subscriber content
?
Subscriber content comes from Gigaom Research, bridging the gap between breaking news and long-tail research. Visit any of our reports to learn more and subscribe.
Advertisement
Advertisement
Advertisement
Comments have been disabled for this post