Rumor: Modern Media Acquires E-Commerce Directory Linkchic
Ebrun, 3/18/13
According to a new industry rumor, Beijing-based Meichen Meike Network Technology, which operates e-commerce directory website Linkchic.com, was recently acquired by publishing group Modern Media. An industry source told Ebrun that the cost of the acquisition likely ran into the tens of millions of RMB, adding that it was not currently clear whether or not Meichen Meike's investors had cashed out. A source inside Meichen Meike, however, said that talks between Meichen Meike and Modern Media have still not reached the final stages, and that the company has no set timetable for any public announcement.
Meichen Meike launched Linkchic in March 2011. Unlike social fashion sites such as Meilishuo and Mogujie, Linkchic offers professionally generated content (PGC) from a dedicated editorial staff for readers looking for the latest fashion and outfit sets. Meichen Meike previously received angel investment from China Renaissance K2 Ventures.
Established in 1993, Modern Media operates a number of magazines in Mainland China and Hong Kong, including Modern Weekly. Modern Media listed on Hong Kong's GEM board under the symbol 00072.HK in September 2009.
Keywords: Modern Media Meichen Meike Linkchic funding 00072.HK e-commerce search e-commerce Internet China Renaissance K2 Ventures VC M&A
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