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Business SNS Dajie Obtains USD Eight-Digit Funding

Tencent Tech, 7/25/11

Beijing Dajie Zhiyuan Information Technology, operator of professional SNS Dajie.com, announced today that it has obtained USD eight-digit venture capital funding from Fidelity Growth Partners Asia, Chinese education services provider New Oriental (NYSE: EDU), and Hotung Venture.

Dajie.com founder Wang Xiujuan revealed in early July that the company had begun seeking second-round funding at the USD 10 mln scale.

Dajie.com was founded in 2008 by Wang, former chief marketing officer and executive vice president of Beijing-based social network and game operator Oak Pacific Interactive. The website publicly launched in April 2009. According to information provided by the site, Dajie.com had approximately 6.2 mln registered users by May this year from more than 3,000 post-secondary campuses across the country, with more than 90% of the site's campus users holding a Master's degree or above. Dajie.com currently has more than 5.2 mln active users and an annual revenue of nearly RMB 1 mln.

In May this year, Dajie.com unveiled its strategy to target the urban white collar professional SNS market. The company's new strategy entails expanding its initial user base from students to include white collar workers who graduated sometime within the past three years.

Editor's Note: For more information on this topic, please see "Former Oak Pacific CMO Founds Online Recruiting Company," MD 10/29/09 issue.

Keywords: Wang Xiujuan Internet funding revenue strategy New Oriental SNS active users registered users EDU Dajie

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