SHANGHAI, April 6, 2016 /PRNewswire/ -- Holaverse has completed a new round of fundraising, bringing in $70-million recently with ADDOR Capital taking the lead, Qihu360, Yi Capital and other institutional investors following suit and Winsoul Capital as the exclusive financial adviser. The $70-million that was raised will be applied chiefly to corporate team-building, product R&D and global expansion.
Holaverse has had its eye on the global stage since Q4 2014. The performance of its flagship products Hola Launcer, Omni Swipe and other Android apps has been impressive. The ever-growing user base has downloaded and activated one of the apps 460 million times since becoming available in December 2014.
"Hola Launcher has rich and powerful features, delivering a smooth, aesthetically-pleasing and easy-to-navigate user experience to Android users," Reuters reported. A focus on providing apps that the firm has termed "compact but powerful" has contributed meaningfully to Holaverse's fast growth.
Holaverse, an app developer that keeps the user front and center in all of its development efforts, has focused on furnishing a perfected yet simple user experience, which is greatly appreciated by the market. During 2015 Hola Launcher regularly appeared on the top 10 developers' list within the Google app store, and, for a time, was listed as one of the 4 greatest Android developers, standing side by side with Facebook, Google and Cheetah Mobile. Of note is that Google and Facebook have both included Hola Launcher on their official websites despite having been available outside of China for a mere nine months, breaking the record for how quickly a "made in China" Internet brand has received this level of recognition.
The raised $70 million will help Holaverse to better retain highly talented human resources no matter where they are located around the globe, and continue to develop and roll out new and original products. Holaverse, in its mission of becoming one of leading mobile internet platforms worldwide, plans to allocate resources to its global mobile game platform and to social networking.
During the period when accessing the internet was done mainly through a desktop device, the model in terms of developing the online market in China and the route to success for investors and China-based internet properties had always been to transplant what had worked in the U.S. to China. However, with the shift to a mobile device as they main vehicle to online access, the direction has reversed, with China creating the model that is then transitioned elsewhere. As legions of Chinese Internet firms move into global markets, the entrepreneurs that run tem have become more mature in talent recruitment and capital deployment as well as in technologies and products development. As a result, they can successfully compete with the unicorns of Silicon Valley. And Holaverse is one of them.
ADDOR Capital partner Huang Tao said, "In terms of the internet, the businesses created by Baidu, Alibaba and Tencent (what is referred to in China as the "BAT" triumvirate) have a high level of overlap and the market competition is fierce. In contrast, a substantial piece of the demand for products and services delivered via online and mobile in markets outside of China remains unanswered. Yet, exploring and developing markets outside of one's home base takes courage and real strength. ADDOR Capital admires Holaverse's courage to delve into and explore the unknown as well as its streamlined product concept, efficiency and strength in R&D in addition to its strong executive ability." Putting funds into Holaverse is an important investment that ADDOR Capital undertook during this period of innovation and of businesses being transformed, and a key step taken by the VC firm to aggressively create a footprint for itself in international online and mobile markets and offer China's premium products and services to the world.
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