Charles River Ventures Backs China Digital Media
Filed in archive Venture Capital by james on May 30, 2006
Tai had revealed that (Charles river
Ventures) " believes that fundamental structural changes are occurring to the
Internet around 'web 2.0' and that the browser's role in media -
particularly around personalization and the formation of community, is becoming more important." Since the venture firm is now currently focused on Open Source, the Digitization of Media, and Mobility, their other China timely investment into WangYu media, a Chinese personal content portal utilizing blogs, reaffirms that it is an increasingly popular social networking experience.
Tai confirmed that that these two companies fit CRV's strategy
and in addition both have the following:
1) large existing user bases (millions at WangYou, and 57+ Million
downloads at Maxthon)
2) are rapidly growing (15% + per month at WangYou, 2M - 3M new per month at Maxthon.)
With no lack of confidence in these recent Chinese investments, Tai and the CRV team "think both these are and will be big hits in their respective segments of the market."
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Mr Wong
