Blogcn Said to Get Funding

Written by Tangos on November 24, 2005
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Blogcn(中国博客网), one of the key blogging service providers(BSP) in China, is said to secure a new round of funding of USD 10 million, the same amount as Bokee’s(博客网) announced funding amount in this Sept. According to the source, IDG and GGV(Granite Global Ventures) are leading VCs in this round, and IDG will be the largest shareholder of Blogcn, which is not yet confirmed by Blogcn.

Blogcn used to be the most important BSP in China, but started to lose their market share when more competitors entered the market and Blogcn’s users encountered severe problems in speed and usability. In a blog survey by Sohu.com this summer, Blogcn is still the most used BSP in China, but in terms of users satisfaction, it ranks much lower. The new funding will definitely strength its capability to compete in somewhat crowded China’s BSP market.

While just several days ago, Fang Xingdong, Chairman of Bokee, said that Bokee is planning some acquisitions in China in an interview. Market rumored that Bokee will merge with Hexun.com, a financial portal who said to focus on middle class in China and provids web2.0 services as blogging, social bookmarking, social networking ect., but Fang denied it in his blog.

One Response to “Blogcn Said to Get Funding”

  1. China Web2.0 Review » Chinese blogosphere on Web2.0(Nov.19-Nov.26) on November 26th, 2005 9:26 pm

    [...] Blogcn, one of the major BSP in China, is said to have received fund from VC like IDG, which would be the largest shareholder of the company if confirmed. [...]

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