Sina Fully Acquires Online Lottery Site Aicai.com

Techweb, 6/19/14

Chinese internet company Sina (Nasdaq: SINA) has completed its acquisition of a 100% stake in Shenzhen Zhong Wang Cai Network Technology, operator of online lottery website Aicai.com. Sina will change the name of the online lottery service from "Aicai" to "Sina Aicai," but the domain name for the site will remain the same. The founding team of Aicai will remain with the company following the transaction.

Aicai, a lottery ticket sales and information platform, was established in 2007 with Sina as a majority shareholder. Aicai is also responsible for building and managing Sina's own lottery ticket sales and information platform.

In March 2009, Aicai completed its first round of funding. In May 2009, the company launched a mobile website, which partnered with Sina's mobile portal in August of the same year.

Keywords: Aicai Internet online lottery Sina M&A

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