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WAP Portal Receives Over US$10M in VC Funding
Chinese Technology Venture Capital, Chinese Technology VC
Chinese free WAP portal 3g.net.cn received over US$10 million in venture capital investment from JAFCO Asia, WI Harper and IDGVC.
Established in March 2004, 3g.net.cn has 16.17 million registered users now. According to General Manager Yuqiang Deng, 3g.net.cn is not an ordinary Internet company, but a wireless Internet portal website.
This is 3g.net.cn's second round of funding. IDGVC made the first round investment of US$2 million in the company at the end of 2004. Deng said that the company will focus on music, entertainment and sports content after VC investments are committed.
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