Chinese Internet Holding Firm Koolanoo Gets $25 Million Funding

This story was written by Rafat Ali.
Chinese online media holding firm Koolanoo Group has received a biggish $25 million in its third round of funding, even as it announced a planned IPO on the Hong Kong market in March this year. An undisclosed investor-- "an international investment group"-- led the round, and was joined by return backer Israeli VC firm Giza Venture Capital.

Koolanoo is headquartered in Beijing and owns 360Quan, a local teen social network; and iQ, a new Chinese Internet browser, and plans to launch new online products later this year. An interesting aspect of the company: Koolanoo started as a Jewish dating site and social network in Israel, and then moved to China...Koolanoo in Hebrew means "all of us."


By Rafat Ali
  • CBSNews

Comments

CBSN Live

pop-out
Live Video

Watch CBSN Live

Watch CBS News anytime, anywhere with the new 24/7 digital news network. Stream CBSN live or on demand for FREE on your TV, computer, tablet, or smartphone.