China.com Eyes Chinese Web 2.0 Developers With New Funding

By TechSecurityChina.com Editor
November 06, 2006

China.com, a subsidiary of CDC Corporation (CHINA), has announced its Web 2.0 Developer Program, which includes US$20 million allocated for investment in selected web development partners.

“We are very excited at the potential for Web 2.0 in China and our goal is to be one of the leaders of this vast emerging market,” said Dr. Xiaowei Chen, Chief Financial Officer of China.com. “We believe that with our strong financial resources, deep partnership with technology leaders like Google and Microsoft and broad understanding of Chinese Netizens, we are well placed to help our Web 2.0 development partners fully monetize their products and services. We feel that this program will bring as much benefit to China’s Web 2.0 development community as the CDC Games’ online game developer program and CDC Software’s franchise partner program have brought to the online gaming and enterprise software communities. We have been in negotiations with a number of top Web 2.0 developers in China and hope to finalize investments in several companies in the next few quarters.”

China.com says it will seek to establish strategic relationships with leading local Web 2.0 companies to accelerate the development of innovative products and services targeted specifically for the China market.

China.com will select small to medium size developers with the technological skill, innovative vision and deep understanding of what drives the Chinese Internet community to develop the next generation of products and services in online video, social networking, blogs, 3G and broadband content and mobile search.

Through direct cash investments, equity investments, lines of credit or a combination of these, China.com will invest up to US$20 million in selected Web 2.0 development partners. China.com will also leverage its deep relationships with advertisers and broad knowledge of the market as one of the first Internet companies in China to provide marketing, advertising and sales support to its partners for their products and services.

As part of the strategic partnership, China.com’s development partners will also be able to leverage the extensive market coverage of the CDC family of companies including millions of growing subscribers of CDC Mobile and China.com and 37 million registered users of CDC Games.

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