Sohu IT, 7/26/11
According to one industry source, Chinese online game portal and browser game operator Duowan intends to IPO overseas by the end of 2011, and has already found an underwriter for the deal.
The source also revealed that the move to IPO Duowan is being driven by the company's angel investor and chairman, Lei Jun, who plans to use the funds to expand the company's market share.
In addition to gaming news and an online forum, another of Duowan's main products is its YY instant messaging platform. According to another source, the YY platform can handle a maximum capacity of more than 3 mln simultaneous online users.
A spokesperson for Duowan declined to comment on news that the company plans to IPO.
Editor's Note: For more information on this topic, please see "Rumor: Duowan Obtains USD 100 Mln Second-round Funding," MD 2/12/11 issue.