Sina Tech, 9/14/11
Yang Bo, CEO of Chinese SNS Douban, revealed yesterday that Douban recorded eight-digit RMB revenue in 2010, driven primarily by brand advertising, and will soon achieve profitability. The company recently completed USD 50 mln in third-round funding, but no final schedule has been set for an IPO.
Online advertising on Douban's book, film, local city, and blog aggregator channels all carry advertising sold on a cost-per-mille (CPM) basis, while advertising on the site's online literature and movie ticket purchasing channels, as well as advertising placed on the site by Chinese B2C clothing website Vancl, are charged under different models.
Yang says that Douban currently has a workforce of approximately 200 employees, and the company has no plans to increase that number in the near future.
Editor's Note: For more information on this topic, please see "Douban Lands USD 50 Mln in Third-Round Funding," MD 9/13/11 issue.