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Dianping Obtains USD 100 Mln in VC Funding

Sina Tech, 4/26/11

Chinese online ratings and group-buy LBS announced today that it had received more than USD 100 mln in funding from Trust Bridge Partners, Sequoia Capital, Qiming Venture Partners, and Lightspeed Venture Partners. Dianping said the funds would be used to expand into other cities, increase marketing efforts, and develop further mobile internet services, as well as for possible mergers and acquisitions if suitable opportunities should present themselves.

Dianping CEO Zhang Tao said that the company plans to position itself as "Yelp plus Groupon plus Foursquare."

Keywords: Zhang Tao Internet funding VC Dianping LBS Qiming Sequoia Capital Trust Bridge LightSpeed Venture Partners e-commerce online reviews group buying

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