Chinese online advertising agency Panshi Information Technology yesterday revealed it had obtained USD 20 mln in funding from Shanghai-based VC firm New Margin Ventures.
Panshi will invest the funds in market channels, R&D systems, and employee retention bonuses. Panshi achieved profitability in 2007. Chairman and CEO Tian Zhu said in 2010 the company had several hundred million RMB in sales, high profits, zero debt, and had not previously received any funding.
New Margin Ventures
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