Funding News: 56.com, Fractalist and Lakala

Written by Tangos on June 16, 2007
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56.com56.com received $10M funding from Steamboat Ventures and SIG. SIG also invested in 56.com in 2003. in March 2007. (sorry, I made a mistake, thanks Kaiser.) 56.com is a Guangzhou-based video sharing website, established in October 2005. In April 2007, Netease partners with 56.com to provide video service to Netease’s users, which bring high traffic to 56.com. According to Alexa data, 56.com’s traffic increased significantly after cooperation with Netease, and it has highest traffic now when compared with Tudou.com, Youku.com and Ku6.com.

Recently, both Youku.com and Ku6.com started to cooperate with Baidu. In Baidu’s web search and image search result page, you can find link to Youku, while in Baidu’s popular Baidu Postbar, there are link to Ku6, and users are allowed and only allowed to post video files hosting in KU6 in Baidu Postbar.

Fractalist recently announced its $5M funding from SBI Group and JAIC-Crosby. Fractalist, established in 2003, is a wireless marketing solution provider. It has been an exclusive partner of China Mobile on wireless interactive marketing since 2006. Prior to this round, Fractalist received $3M funding in 2005.

LakalaLakala closed $5M second round funding. Lakala is a e-billing service provider, which offers invoicing and billing process, payment and management services for ecommerce companies to facilitate online payment in China. Fortune Venture, a Taiwan venture capital, led the second round.

2 Responses to “Funding News: 56.com, Fractalist and Lakala”

  1. Kaiser Kuo on June 16th, 2007 5:31 am

    Hi Tangos, I think the initial SIG investment in 56.com was in February 2007, not in 2003. Thanks for your link on your Facebook page to the new Ogilvy China Digital Watch blog! And I should tell you that I’m posting a lot in English, but have help in translating my posts for the Chinese site–that’s what makes me look “so productive”!

  2. ct on June 16th, 2007 4:27 pm

    YOHO.CN is next myspace

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