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Sina Invests RMB Eight-figure Sum in Mobile Reader Start-Up

ChinaVenture, 6/21/11

According to industry sources, Beijing-based mobile reading and mobile comics operator Wei Yue Information Technology has received an eight-figure investment from Chinese internet company Sina (Nasdaq: SINA) in its first round of funding. Sina will reportedly continue to invest in Wei Yue in the future.

Wei Yue is currently developing mobile text and animation sharing services based on Sina's Weibo microblogging platform.

Wei Yue subsidiary Beijing Indice Interactive Information Technology provides mobile reading and comic solutions for China Mobile's (NYSE: CHL; 0941.HK) mobile reading base in Zhejiang and its mobile animation base in Fujian.

Keywords: Wei Yue Indice Interactive mobile animation funding investment wireless Sina microblogging mobile reader

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