WI Harper Announces Successful Listing of Sungy Mobile on NASDAQ -- JP Morgan and CSFB Joint Book Runners
SAN FRANCISCO, Nov. 25, 2013 /PRNewswire/ -- WI Harper Group, a leading early stage venture capital firm with offices in San Francisco, Taipei, and Beijing, announced the successful listing of portfolio company Sungy Mobile "Sungy" on the NASDAQ on Nov 22, 2013. WI Harper co-invested in the Series B round of Sungy in June, 2006 and followed with a Series C investment in 2010. Working closely with Sungy's founders, WI Harper supported the company with its international growth through the establishment of expansion strategies and introductions to key business partners.
In 2006, WI Harper's investment team identified Sungy Mobile as an exciting start up in China. Founded by two young visionaries, Yuqiang Deng and Xiangdong Zhang, these exceptionally passionate entrepreneurs foresaw the exponential growth of the Android operating system and mobile internet in China. They envisioned a future where the majority of the country's Internet traffic is generated by mobile devices. Sungy Mobile Ltd.'s founders sought to create superior, customizable mobile services that deliver world-class user experiences through their flagship product "GO Launcher."
The IPO of Sungy Mobile on the NASDAQ brings further validation to WI Harper's vision and unique investment model, and has facilitated more mobile internet service companies from China to IPO in U.S. markets.
Mr. Xiangdong Zhang, President of Sungy Mobile Ltd., "The mobile evolution still has a long way to go. With our market leading position in Android ecosystem, we are excited for Sungy Mobile's future." Mr. Zhang added, "We thank all our investors including WI Harper who supported and provided exceptional value to us through their extensive global network."
"The Android operating system will continue to take market share from Apple and Sungy's feature product, GO Launcher, is poised to benefit from this opportunity," said Peter Liu, Founder & Chairman of WI Harper Group. Liu added, "WI Harper is extremely proud of Sungy's achievements, and we as consumers look forward to more exciting and innovative products from this talented management team."
About WI Harper
For more than 20 years, WI Harper has sought to partner with visionary and passionate entrepreneurs to build world-class, market leading companies. As a pioneer of cross-border investment strategy, WI Harper was one of the first venture capital funds to invest in Greater China, successfully bridging technology innovations with international market opportunities by providing capital, guidance, and access to strategic business relationships. As entrepreneurial as the companies we support, WI Harper has grown steadily since our founding in 1993, having raised a total of $700 million in committed capital across seven funds from financial and strategic limited partners around the world, and has invested in over 300 companies to date. With over 20 investment professionals across three offices in San Francisco, Taipei, and Beijing, WI Harper is currently investing out of our seventh fund, focusing on early and expansion stage companies in the TMT, cleantech, and healthcare sectors with aspirations to become global leaders. For more information, please visit: www.wiharper.com
About Sungy Mobile Ltd.
Sungy Mobile Limited is an international company based in China which operates one global business, GO series apps, and two domestic businesses, 3G Portal and 3G Book Market. Sungy Mobile Limited is committed to become the entry point for global mobile internet and build a leading international brand in the mobile internet business. For more information, please visit: www.sungymobile.com
T: +8610 6539 1366 ext 803
SOURCE WI Harper Group