Duowan Confirms Fourth Round of Funding

Sina Tech, 12/04/09

Chinese online gaming portal Duowan has received a total of four rounds of funding, according to CEO David Li (Li Xueling). Although the last two rounds of funding have not been made public, one round in 2008 came from Disney, while another most recent round has just been completed.

This new round was worth approximately USD 23 mln, but, because of agreements with investors, exact figures are not forthcoming. Li said that the third round of investment, from Disney, was worth over USD 4 mln.

Li said that following the investment, Duowan has no plans to enter other fields, and will instead focus on its current business and expand its workforce.

In a statement to Sina Tech, Li said that Duowan was already profitable, and would not rule out the possibility of merging with or acquiring other companies in its industry, but at this stage it has no plans to IPO.

Keywords: HR online gaming David Li Disney Internet IPO funding portal Duowan fourth-round third-round

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