SubscribeYahoo Taiwan To Buy Wretch?
Market rumor said that Yahoo Taiwan will acquire Wretch.cc for an amount of USD 21 million. (via cn.engadget) Wretch.cc, founded by several university students in 1999, is the most successful blog hosting and online photo album service provider in Taiwan,or sort of Taiwan’s Myspace.
According to Alexa, Wretch.cc is the 27th most visited site in the world, and the second most trafficed site in Taiwan, just after Yahoo Taiwan. It currently owns more than 2.8 million users, generated 1.7 billion pageviews in June. Last year, it earned about $6.5 million from its membership fee and online advertising service.
The latest news said that Wretch denied the acquisition by Yahoo. But the news said Yahoo will obtain the preemptive right to acquire shares amounted to NT 200 million (about $6 million) in Wretch’s next round fundraising, Yahoo will be the biggest shareholder by then.
No matter the rumor is true or not, and no matter by which means Yahoo Taiwan will buy Wretch, we can not deny the fact that Wretch is one of the most successful web 2.0 cases in Chinese online community.
Update: Yahoo Kimo has acquired Wretch for a total value of the deal at 22 million.
-
Related Posts
One Response to “Yahoo Taiwan To Buy Wretch?”
Post a comment
[...] In related news, Yahoo Taiwan is also looking to have a bigger share in Chinese social networking space. Yahoo will be investing $6 million in Wretch.cc to become its biggest shareholder. Wretch is the biggest blog hosting and online photo album service provider, located in Taiwan. Wretch’s Alexa traffic ranking is 27. [via 1] [via 2] [...]