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Kaixin001 Commences Second-Round Fundraising

Sina Tech, 3/04/09

A source has revealed that Chinese SNS Kaixin001 commenced a second round of fundraising in January, and expects to raise a sum of nearly USD 20 mln. Kaixin001 is currently in contact with numerous investors, with first-round bidder Northern Light Venture Capital (NLVC) to continue participation in the second round of bidding. In September 2008, Kaixin001 obtained between USD 4 mln and USD 5 mln in funding from NLVC.

Keywords: funding Internet Kaixin001 Northern Light Venture Capital SNS investment second-round VC Web 2.0

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