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Digu to Raise USD 25 Mln in Additional Funding

Netease Tech, 4/28/11

Chinese location-based service (LBS) mobile SNS Digu has disclosed that it plans to raise USD 25 mln in two more rounds of funding.

CEO Li Song revealed that Digu's mobile applications have been downloaded more than 2 mln times. Li added that he expects that the LBS social networking market will double in 2011, reaching RMB 12 mln.

Li said that the company is currently working with 30 major brands to provide users with membership cards or discount coupons.

Editor's Note: For more background on this topic, please see "Digu Plans to Raise USD 30 Mln in Additional Funding" MD 4/06/11 issue.

Keywords: market size growth rate Li Song funding wireless mobile SNS Digu LBS mobile application

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