Tech Web, 1/14/10
Chinese software developer Phoenix Studio, makers of TheWorld browser, has joined the Qifei ("Takeoff") freeware incubation plan of Chinese anti-virus software provider Qihoo 360. In addition to receiving tens of millions of RMB in funding for new product development, the development team for TheWorld browser will also receive guidance from Qifei investors as well as assistance and promotion from Qihoo 360.
TheWorld browser has recorded over 300 mln downloads in China and is installed on over 30 mln computers.
Other small and mid-sized software products have received small amounts of financial support from the Qifei Plan, such as media player Leyu Yingyin He ("Leyu Video & Music Box"), which received an undisclosed sum. Zhejiang Haoying Network Co. Ltd., developer of the PPFilm online video platform and operator of Pipi.cn, said that Qihoo 360 has also shown interest in its products, but specifics have not yet been settled upon.
Editor's Note: Other reports say that TheWorld and Qihoo 360 began cooperating long ago and Qihoo 360 has acquired TheWorld, but neither side has confirmed the rumors.