Rumor: Qihoo 360 Invests in Mobile New Media Firm

TechWeb, 11/01/12

360 Capital Investment, controlled by Zhou Hongyi, chairman of Chinese Internet services and security software provider Qihoo 360 (NYSE: QIHU), has reportedly invested an undisclosed sum in Beijing-based mobile new media platform technology and operating services provider Vivame Technology, and Zhou will assume a post within Vivame. Neither company has confirmed the rumor. Netease (Nasdaq: NTES) and Tencent (0700.HK) also may participate in Vivame's second round of funding.

Vivame previously obtained USD 10 mln in first-round funding from Highland Capital and French VC firm Ventech. Highland has also invested in Qihoo 360.

Vivame's mobile reading app VIVA Changdu has reached 90% penetration on mainstream smart devices, with over 65 mln users and more than 1 bln monthly pageviews as of the end of H1 2012.

Editor's Note: For more background on this topic, please see "Handset Media Firm Receives USD 10 Mln JV Funding" MD 1/20/09 issue.

Keywords: Zhou Hongyi Netease funding investment wireless Tencent VC 0700.HK NTES Qihoo 360 Vivame QIHU second-round

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