Spider.com.cn to Start Second-Round Funding

Wabei, 11/23/09

Chinese online magazine subscription site Spider.com.cn recently began preparations for its second round of funding. VC funds Sequoia Capital and CDH Investments as well as first-round investor Shanghai Hexin Investment have expressed interest.

Spider.com.cn, established in 2005, received first-round financing in 2008, the same year it achieved profitability and recorded over RMB 100 mln in transaction volume. Spider currently has nearly 2,000 participating publishers, offering more than 11,000 different products, including foreign publications and industry periodicals.

Editor's Note: For more information on Spider.com.cn's first-round financing, please see "Online Magazine Subscription Site Lands Funding" MD 5/20/08 issue.

Keywords: online subscription e-commerce Internet funding VC Hexin CDH Investments second-round Sequoia Capital Spider

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