51wan Confirms Second Round Funding
Sina Tech, 5/19/10
Chinese browser game platform 51wan has officially confirmed that it has entered the "critical stage" for its second round of funding, and that Sequoia Capital is not the only prospective investor. 51wan president Liu Yang said that this round of funding will be used mostly for marketing.
A source close to 51wan revealed that the company will seek about USD 5 mln in this round. The source added that 51wan had still not received funding at the time of its move to offices in Beijing's Wangjing area.
Liu said that 51wan's ARPU is RMB 150, but that mid- and high-range ARPU for the industry can reach between RMB 200 and 300. 51wan's APA (active paying account) percentage is only 1%; the average for the industry is between 20% and 30%.
The company hopes to drive an increase in paying user accounts with its game Kaixin Xiyou.
Keywords: 51wan browser game Liu Yang ARPU Internet funding APA Sequoia Capital Kaixin Xiyou online gaming second-round
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