An industry source revealed recently that Beijing-based location-based services provider Momo Technology has completed a second round of funding at a scale 20 times that of its first-round funding. Momo received approximately USD 2.5 mln in first-round funding from venture capital firm Matrix Partners.
Editor's Note: For more background on this topic, please see "Mobile IM Momo's User Base Reaches 10 Mln" MD 8/02/12 issue.
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