SubscribeWhat’s The Meaning of SoftBank’s Investment in Oak Pacific?
Lots of discussion on the news that Masayoshi Son’s Softbank will lead an investment totaling $430 million for approximately 35% stake of Oak Pacific Interactive (OPI), whose main asset currently is Xiaonei.com, a Facebook clone, can be found on the blogosphere already, such as on Techcrunch, VentureBeat and DigitalWatch.
Honestly, I was surprised by the [...]
Rising And Falling of Oak Pacific
Zhang Liang, a journalist of Global Entrepreneur, linked to a recent report of Oak Pacific. In case you don’t know Oak Pacific, this company is treated as an icon in web2.0 of China. It has raised US$ 58 million in two rounds of funding. Its subsidiary companies include Mop, Xiaionei, Donews and a couple of [...]
Chinese campus social network hot again
Cnetnews reported: Oak Pacific Interactive has acquired Xiaonei (profile), Chinese version of Facebook. It will combine with 5Q, Oak Pacific’s campus social network division.
According to the report, 5q was founded in Apr. 2006. It has covered 2000 universities in China. The registration number is 1.2 million. Xiaonei was founded in Dec. 2005. It has [...]
Oak Pacific To Lay Off 150 Staffs
Oak Pacific Interactive, who got $ 48 million investment from General Atlantic and other famous VCs in March, announced in its press release today that it will lay off about 150 staffs, that is approximately 10% of all its employees. (via sina)
The layoff will mainly affect Mop.com and Donews.com to streamline its business and [...]
Chinese Web2.osphere (Apr. 22)
Another web2.0 logo collection: What better than the previous one is that they classifed the web2.0 sites into different categories.
Toodou Stop Providing Blog Service: Gary announced in its blog that Toodou will not provide blog hosting service any more, they will focus on its core business podcast hosting. I do think it a smart [...]