Mobile SNS Maker PingCo Lands USD 10 Mln

ChinaVenture, 6/30/10

Beijing-based free mobile SNS software developer PingCo will soon close a new round of funding of approximately USD 10 mln. PingCo obtained USD 1 mln in funding from Mayfield China (GSR Ventures) in late 2005, and USD 5.5 mln from DCM and GSR Ventures in 2007.

CEO Wang Wei said PingCo's ultimate goal is to create China's largest mobile SNS community. PingCo software combines instant messaging, social networking, contacts and chat room functions in single client application, allowing users to send an unlimited number of SMS to other PingCo users via GPRS at no additional charge, as well as check news and weather reports.

Keywords: PingCo Wang Wei funding wireless mobile SNS GSR Ventures Doll Capital Management

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