Guanxi.me Secures Series A Funding from SingTel Innov8 for China and Asia Expansion
SHANGHAI, Oct. 25, 2012 /PRNewswire/ -- Guanxi Inc. (www.guanxi.me), a Cayman-based mobile social network services (SNS) company, today announced the completion of Series A funding led by SingTel Innov8 and including an investment from Timothy Draper of Draper and Associates. Guanxi Inc. recently completed its spin-off from mInfo Inc. (www.minfo.com), a leading Chinese mobile search and marketing provider.
Guanxi Inc. operates the Guanxi.me SNS platform consisting of smartphone apps, mobile-web services, SMS services and web-based backend management systems. The Guanxi.me app, available on both Android and iOS, enables users to see and interact with people and places around them, and intelligently notifies them when relevant people or offers are nearby.
With Guanxi Radar, Guanxi.me also allows users to define and automatically scan for relevant people nearby without even turning on the app. Our users will never miss a chance to meet someone they care about again. The Guanxi mobile-web and SMS services allows feature phones to receive many of the benefits of the Guanxi.me platform without downloading an app. Guanxi.me is a truly innovative way for users to find and interact with current and future friends.
Guanxi Inc. plans to use the funding to expand its team, build up a carrier-grade operating platform, grow its user-base through innovative marketing strategies and raise awareness for the service beyond China.
CEO and Founder of Guanxi, Alvin Wang Graylin said, "For thousands of years, Guanxi is the term used to describe the key social model in Asia. Guanxi.me applies that concept and has adapted it for the modern world. Unlike other social networks, we are focused on using advanced mobile technology to increase and enhance face-to-face contact between our users, not replace it. "
"We are excited about Guanxi's promise of a more intelligent and automated mobile social networking user experience," said William Bao Bean, Managing Director at SingTel Innov8. "We look forward to supporting Guanxi's geographic expansion of their innovative solution into the various markets the SingTel Group operates in."
About Guanxi Inc.
Guanxi Inc. (www.guanxi.me) operates Guanxi.me, a new social networking platform that uses innovative mobile technologies to seamlessly help users discover and create meaningful connections with people around them. The Guanxi.me app is available on iOS and Google Play app stores and also supports operations on feature phones. Founded in 2012, Guanxi Inc. is headquartered in Shanghai China, with offices in Chengdu China and Seattle USA.
About SingTel Innov8
SingTel Innov8 (Innov8), a wholly-owned subsidiary of the SingTel Group, is a corporate venture capital fund, with its own set of decision making, approval and funding processes. It has an initial fund size of S$200 million. Innov8 focuses its investments on technologies and solutions that lead to quantum changes in network capabilities, next generation devices, digital content services and enablers to enhance customer experience. It works closely with the ecosystem of leading innovators, developers, government agencies, R&D and capital providers to bring cutting-edge technologies and solutions to the various markets the SingTel Group operates in. (innov8.singtel.com)
SOURCE Minfo Information Technology Co., Ltd.
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