Marbridge Daily

<- February 24, 2011 ->

Rumor: Innovation Works Invests USD 1 Mln in Tumblr Clone

Tencent Tech, 2/24/11

An industry source told Tencent Tech today that, a lightweight blogging platform founded by Xu Chaojun, former president and chairman of Shanda Interactive's (Nasdaq: SNDA) chess and board game developer subsidiary Hangzhou Bianfeng, had received at least USD 1 mln in investment from Beijing-based incubator Innovation Works. The source said Xu had been listed as part of Innovation Works' "star entrepreneur" plan, and given an office at the company. is similar to the US-based, which is blocked in China, in offering a simple, lightweight blogging and social service. Users can create new posts or share content they like with the click of a mouse. The site offers "Text," "Photo," "Essay," and "Video" blogging types. Diandian is currently in closed, invitation-only beta.

Xu Chaojun previously said that Diandian was close to completing its first round of funding, and that further details would be available after the deal was signed.

Editor's Note: For more background on this topic, please see "Bianfeng President Leaves for Mobile Internet Start-Up" MD 2/16/11 issue.

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