ChinaCars, an automotive news, info and commerce portal in China, has received $8-million first round of venture investment from Granite Global Ventures. The startup, founded in 2001, said it expects to book 100 million Yuan ($12.4 million) in revenue for 2005. It employs 300.
granite was one of the backers of Alibaba, the company whch bought out Yahoo’s China operations earlier this year.
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