Tencent Tech, 7/14/11
Chen Zhong, director of marketing for the Orange Hotel Group, recently claimed on his Tencent microblog that Chinese internet company Sina (Nasdaq: SINA) has invested USD 12 mln in Beijing-based mobile advertising firm Dianxin Media (Dx.cn). A source within Dianxin confirmed the rumor.
Chen said that he had learned of the investment from Dianxin Media staff promoting their services to Orange Hotel.
According to an industry source, Sina invested in both Dianxin Media and a number of other mobile internet firms around the same time last year, such as mobile download client developer 1000CHI Software Technology and mobile games and software website Baoruan.com.
Dianxin Media, established in March 2010, places precision ads on WAP sites and mobile applications, and has handled mobile advertising campaigns for Sina, online classifieds site Ganji, and Chinese B2C clothing website Vancl.
Neither Sina nor Dianxin Media has commented on the news.