SHANGHAI, China, May 10 /Xinhua-PRNewswire/ -- 51.com, China's largest
blog community, recently announced the closure of its latest round of
financing, which is co-invested by Intel Capital, Redpoint Ventures (the
investor of MySpace, the well-known social network in the U.S.), Sequoia
Capital China and SIG. Prior to that, 51.com received the first round of
investment from Sequoia Capital China and SIG in May 2006.
Intel Capital is the venture capital arm of the world largest
chipmaker, Intel, responsible for equity investment in technology
innovation companies and other companies worldwide. As one of the largest
venture capital companies in the world, Sequoia Capital has invested in
Apple Computer, Cisco, Oracle, Yahoo!, Google, and Paypal, etc. Founded in
1972, this VC has become the flagship of the American venture capital
industry. Neil Shen, board director of 51.com is the Founding Managing
Partner of Sequoia Capital and the co-founder of Ctrip.com International
Ltd. and Home Inns. He was honored the 2006 CCTV Top Economic Person of
The above-mentioned heavyweight investors demonstrate their high
recognition to 51.com. Neil Shen said, ''We are very satisfied with
51.com's development in the last year. At present, with the roaring number
of registered users, login users, simultaneous online users and average
page views per day, 51.com tops the ranking of Chinese websites. We are
full of confidence for its future and will continue to support 51.com.
According to David Yuan, the partner of Redpoint Venture, the investor
of MySpace, ''Redpoint has been always been looking for a company with the
same growth potential as MySpace in China, and we decided to invest in
51.com through a deep understanding of the Company. We believe that 51.com,
together with its excellent team, will be as successful as MySpace.''
Alan Pang, Chairman of 51.com, said that the capital raised this time
would be used for expanding system capacity, improving service and
enlarging markets. While strengthening product innovation, 51.com would
constantly improve product quality and enhance user experience so as to
provide more netizens with excellent blog community services. Max Huang,
the Chairman assistant and head of data mining and strategy studies of
51.com, believed that 51.com's blog & community mode set a model for Web
2.0. With 60 million registered users, over 5 million login users each day
and an average online duration of 40 minutes for each user, this mode
competes with TV. Meanwhile, the maximum amount of online users reaches
500,000, exceeding most online games. And each user views up to 40 pages
after login on average, exceeding that of a portal.
New media mode brings new advertising mode. Mr. Pang said, ''It's
absolutely possible to deliver advertisements according to the users'
features such as interest, region, age, etc., as only by login can users
use the services and view the pages.'' Accurate marketing, which is
impossible to achieve in Web1.0, comes true in the 51.com blog community
The 51.com blog community is devoted to delivering a healthy culture,
advocating a diversified culture and leading a harmonious culture. As
regards the business mode's positive impact on society, Mr. Pang said,
''The 51.com blog community will provide a platform for Chinese netizens to
achieve their personal value. It directs the development of industry
upgrading and we are confident about the future.''
Insiders think that 51.com's new gain of venture investment of millions
of dollars in the sluggish financing environment in 2007 symbolizes a new
mode that balances the self-actualization needs and social demands. Blog
communities are emerging from the new Web2.0 and they represent the
development trend of the Internet industry, sending encouraging signals to
new dotcoms, especially Web2.0 start-ups.
http://www.51.com , China's largest blog community, is committed to
providing personal blog networking services for millions of users via the
Internet, and it is the network platform for millions of netizens to show
51.com's subscribers have reached 60 million, and such a figure is
still increasing at a rate of 5 million new subscribers per month; the
website's monthly login users have reached 20 million, and the simultaneous
online users rocketed to 500,000; with daily average page views totaling up
to 200 million times. Now 51.com has earned a rank in the top 20 Chinese
website's worldwide, and its striking development speed has been deemed a
miracle in China's Internet industry in 2006.
In May 2006, Sequoia Capital China and SIG successively completed a
US$6 million strategic investment to 51.com. In May 2007, 51.com obtained
US$10 million joint investment from Intel Capital, Sequoia Capital,
Redpoint, and SIG, which completed the Company's second round of financing.
Such strategic investment offers strong and forceful support for the
following development and management of 51.com.
The 51.com blog community will dedicate itself to acting as an
advocator for a healthy culture, a diversified culture, and a harmonious
culture. Meanwhile, the Company will continuously strengthen its
management, R&D and operations, in order to offer high-level products and
services for Internet users and improve its business model. In addition,
the Company is making endeavors to become a strong stock on the NASDAQ
market within three years.