BlogChina aims for Nasdaq
I caughtÂ this story on TimYang.comÂ about the BlogChina network and decided to dig a little deeper. I had no idea that there was anything so well developed and on the scale of BlogChina.
BlogChina, established in June last year, has gone from just one employee to 210 staff. “We are adding 50 employees a month at the moment,” Mr Fang said.
The company was started with US$500 million in seed capital from Softbank Asia Infrastructure Fund and will receive a second round of funding of US$10 million this month from a group of six venture capital firms based in China and the United States.
“A number of investment banks are interested in taking BlogChina to Nasdaq, but it is too early for us to have chosen any,” said Daniel Yang of Softbank Asia Infrastructure Fund.
Mr Fang said the company expected to break even by the end of this year.
You can read more on Asia Media’s site.
Wow. How about that kind business expansion? Most of their revenue is coming from advertising from large multinational companies, but they are about to introduce a consignment type of arrangement with there bloggers. This would allow a writerÂ charge for their content and pay a rental feeÂ to BlogChina.
It is interesting to see an immature industry like blogging and how it develops. Who will end up as the McDonald’s of the blogoshere? Lots of mom and pops burger joints right now. Some are trying to grow their franchise and some are content to stay small.Â I wonder ifÂ BlogChina have plans to go after other markets – sounds like they just might?