Back to Witmart Home

Zhubajie gets US$419m cash injection

by Amy in Business Jul 19, 2015 EDT

CHINA’S largest crowdsourcing platform Zhubajie.com received a cash injection of 2.6 billion yuan (US$419 million) yesterday, the largest of its kind in China’s service industry and the largest Internet-related investment in west China.
Zhubajie, which provides website design and construction, writing, programing, planning and marketing, will now be worth more than 10 billion yuan, said Zhu Mingyue, its founder and CEO.
Cybernaut (China) Investment, a venture capital firm that focuses on technology, will contribute 1.6 billion yuan, and a state-owned enterprise under the Chongqing New North Zone Administration Committee will invest 1 billion yuan.
The money will be used for marketing and to establish regional incubator projects in 20 Chinese cities, said Zhu, who founded the company in 2006 in the western metropolis of Chongqing.
Zhubajie, which has an international portal Witmart.com, planned to be listed in Nasdaq in 2011 but turned to the domestic market due to success stories in the local markets. The massive injection of money will speed up its IPO process on a local bourse, he said.
From:http://www.shanghaidaily.com/business/it/Zhubajie-gets-US419m-cash-injection/shdaily.shtml

0 comments:
Leave your comment here
Your email address

It looks like you are already a Witmart user, please enter your password

Forgot your password?

I accept the User Agreement and Privacy Policy.

Submit
The Witmart Blog
  • Witmart is the world's largest crowdsourcing website for professional freelance services with over 7 million users from around the world.
  • Here, we feature the latest news at Witmart and share interesting stories from like-minded businesses and freelancers. Subscribe to our blog and never miss a single post.

Subscribe via email!

Subscribe