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Ganji Finishes New Round of Funding

DoNews, 3/31/11

Mark Yang, CEO of Ganji.com, has revealed that the Chinese online classifieds site completed a new rounding of funding in December last year, the third round for the company following the joint investment of nearly USD 20 mln from Nokia Growth Partners (NGP) and BlueRun Ventures in January 2010. Yang said the company plans to release details of its new development strategy sometime in April.

Yang said that while Ganji might be ready for a public listing by the end of 2011, no plans or timeline for such a move are currently in place. Yang said he sees little difference between secondary market and open market funding, but declined to give more specific details regarding the company's recent funding, saying only that the amount received is comparable to a small-scale market listing, and that new financiers have come on board.

Yang also revealed details regarding employee stock ownership: staff who remain with Ganji for two to three years are given incentive stock options.

According to Yang, Ganji currently has 343 channels nationwide, and a team of more than 50 editors reviewing content. The majority of traffic to Ganji's channels comes from the capital cities of each province.

Editor's Note: For more background on this topic, please see "Ganji Wins USD 20 Mln Led by Nokia Growth Partners" MD 5/31/10 issue.

Keywords: HR Internet funding online classifieds Ganji Mark Yang IPO stock option third-round

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