Tiange Obtains RMB 30 Mln Funding from Sina

Qianjiang Evening News, 12/09/10

Hangzhou-based Tiange Technology, operator of online karaoke SNS 9158.com, recently received RMB 30 mln in funding from Chinese internet firm Sina (Nasdaq: SINA).

9158.com is dedicated to developing and operating Tiange's online karaoke SNS, which offers online karaoke, social networking, video interaction, and music. The site has approximately 10 mln registered users, and realized more than RMB 300 mln in total revenues last year. Average monthly operating revenues for this year have been more than RMB 50 mln.

Editor's Note: For more background on this topic, please see "Rumor: Sina Holds Stake in Video Chat Company" MD 9/29/10 issue.

Keywords: Internet funding karaoke 9158.com SNS registered users Sina revenue investment Tiange

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