Langtaojin Obtains First-Round Funding
21st Century Business Herald, 4/16/11
Beijing-based online precision marketing firm Langtaojin has completed first-round funding from Matrix Partners reportedly reaching an "eight-digit figure" in USD, although neither side has released the exact amount of the funding. Matrix Partners partner Michael Zuo said that with his firm's focus on early stage projects, the scale of Matrix Partners first-round funding is typically kept below ten million USD, but that this round of funding for Langtaojin "far surpassed that number."
Langtaojin founder Zhou Jie said that the firm's projected revenue for 2011 is at "more than a hundred million RMB", and that that staff will be expanded from a mere handful of people to more than 130.
According to information released by Langtaojin, in addition to Google and Chinese Internet company Baidu (Nasdaq: BIDU), Langtaojin also cooperates with vertical classifieds sites such as Ganji.com, and several online community sites, including Tianya. Langtaojin is currently partnered with more than 50 different media outlets and has more than 10,000 small and medium businesses as clients, covering industries ranging from home tutoring to real estate, automotive sales, marriage and over 150 additional categories.
Keywords: online advertising Michael Zuo Zhou Jie Internet marketing funding revenue Langtaojin Matrix Partners
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