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Rumor: Mobile SNS Obtains RMB 50 Mln in VC Funds

Netease Tech, 11/10/10

Mobile SNS 159.com has received RMB 50 mln in VC funding from Shenzhen Fortune Venture Capital, according to an industry insider. Founder Wu Gaoyuan said 159.com has already launched a road show and begun preparations for an IPO.

159.com is a mobile SNS platform that combines both SNS and app store features. Established in 2007, 159.com has more than 6 mln registered users, and reported over RMB 27 mln in revenue and more than RMB 4 mln in net income in 2009.

Keywords: 159.com profit IPO funding revenue wireless VC mobile SNS registered users Fortune Venture Capital

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