Rumor: Pet-owner Site to Receive RMB 8 Mln in Funding

Sohu IT, 9/24/09

An institutional investor has revealed Tang Yang, founder of social-networking site (SNS) Xiaonei, will receive USD 8 mln in first-round funding for his new pet owner SNS Goumin.com. Two investors have already confirmed that they will invest in the site, and are currently in more detailed talks regarding the investment. Tang would not confirm the reports of the investment amount or timetable, but did say that Goumin.com had been approached by investors. Tang added that Goumin.com plans to begin a new round of financing next year, with an eye towards listing on the domestic GEM board in 2012.

Goumin.com is a Chinese community site dedicated to pet-owners. Its primary services and sources of profit are its user communities, interactive marketing, and e-commerce. The community portions of the site see more than 100,000 unique visitors per day currently, and Goumin intends to make e-commerce a key goal in its development.

Keywords: first-round VC Internet traffic Internet funding GEM SNS Goumin IPO

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