Wandoujia Denies Rumor of Softbank Investment

Sina Tech, 11/20/13

Wang Junyu, co-founder of mobile Android app store Wandoujia, has denied rumors that the company has secured USD 100 mln in funding from an investment arm of Japanese telecom and media corporation Softbank Corporation, stating that a new round of funding has not yet occurred.

A number of Chinese tech media outlets reported yesterday that Softbank had reached a preliminary investment agreement with Wandoujia, pursuant to which Softbank will invest USD 100 mln to acquire a 20% stake in Wandoujia, valuing Wandoujia at USD 500 mln.

Editor's Note: For more background on this topic, please see "Wandoujia Breaks Even, Installations Exceed 200 Mln" MD 7/25/13 issue.

Keywords: funding wireless Softbank Wang Junyu Wandoujia valuation

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