LifeMedia Receives Second Round Funding

Sina Tech, 3/10/10

LifeMedia, operator of Chinese video-based dining and entertainment review site 100du.com, has reportedly received several million USD in second-round funding. Details of the agreements are still being finalized with several investors and are expected to be announced soon, according to an industry source.

The source said that Mizuho Financial Group joined the second round, which was led by returning first-round investor Mitsui Ventures.

Senior management at LifeMedia confirmed the investment news, and revealed that this round of funding will mainly be used towards its latest business, Ftuan.com. The website is a clone of US-based group purchasing e-commerce site Groupon.com, offering discounts as high as 90% off on consumer services for groups of a sufficient size.

LifeMedia, established in 2007, released 100du.com the same year and completed USD 3 mln in first-round funding at the end of that year.

Keywords: LifeMedia Mizuho online reviews Internet funding 100du Mitsui Ventures second-round e-commerce

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