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China Business News, 2/26/08

Zhang Xiangdong, president of leading free WAP site, has revealed that a strategic investor is to be brought on board prior to a listing, and that an IPO this year is within the realm of possibility. The extra funding will be used for brand-building and investment in technology.

Launched in 2004, has already completed two rounds of funding, with almost USD 20 mln coming from IDGVC, JAFCO Asia and WI Harper. 50% of company income comes from advertising, and a further 20% from membership fees. More paid services offering original literature and financial news are planned.

Keywords: Zhang Xiangdong WI Harper mobile advertising WVAS mobile securities information mobile book free WAP funding IDGVC IPO Jafco Asia third-round WAP wireless

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