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Snowball Obtains USD 10 Mln in Second-Round Funding

DoNews, 6/05/13

Beijing-based stock market news website operator Snowball Information Technology announced recently that it has received USD 10 mln in second-round funding from Morningside Ventures and Sequoia Capital. With the new funding, Snowball CEO Fang Sanwen stated that the company's expenditures will remain concentrated on product R&D and staff recruitment, with the goal of enhancing user experience to increase the competitiveness of the company's products.

Snowball was founded in April 2010, and received angel funding early on from venture capitalist Charles Xue. The company received RMB 20 mln in first-round funding from Sequoia in 2011.

Editor's Note: For more information on this topic, please see "Snowball Confirms Funding from Sequoia Capital," MD 6/27/11 issue.

Keywords: online financial information Internet funding Morningside second-round Sequoia Capital Fang Sanwen Charles Xue Snowball

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