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Pomoho Raises RMB 6 Mln from Hangzhou Government

National Business Daily, 3/26/09

An industry source has stated that Chinese online video-sharing site Pomoho will relocate its headquarters to Hangzhou from Beijing after receiving RMB 6 mln from the Hangzhou government. The company is expected to formally announce the move at the beginning of April. Meanwhile, an overseas company that invested in Pomoho in 2007 expects it will increase its investment in the company by USD 10-20 mln this year. Pomoho CEO Zhao Pinhong has confirmed both points.

Keywords: funding government support Internet investment online video Pomoho Zhao Pinhong

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