VC supported Blog seeks China Financial News Portals

Filed in archive Venture Capital on December 2, 2005

Pacific Epoch has reported that Chinese blog startup Bokee, formerly called, Blog China, is planning a series of acquisitions before year-end. Beijing-based Bokee, which hosts Chinese blogs and makes money from advertising, had earlier raised $10 million this summer from Silicon Valley VC firms Bessemer Venture Partners, Mobius Venture Capital, and others. Bokee plans to use some of that VC money for targeted acquisitions.

China now boasts a 14.2 million blogs with a new one created every second, according to Web site Technorati. Initial public offerings of Chinese technology companies continue to generate a buzz among VCs since Web search company Baidu.com struck gold with its shares more than quadrupling in value in their U.S. market debut only a few months back.

The company's chairman, fang Xingdong, has also informed Beijing News.Net that Bokee has been speaking with about 10 Chinese startups, including financial Web site Hexun. Hexun editor-in-chief Liu Jun told Chinese news site Sina.com last week that Hexun is considering various options, including being acquired, and that Hexun may make some small 2.0 web acquisitions. Bokee may indeed end-up with a huge holiday Xmas stocking stuffer.