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


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.

Watch Now

New Android App

For your Android phone and tablet, download the FREE redesigned app, featuring CBSN, live 24/7 news.

The all new
CBS News App for Android® for iPad® for iPhone®
Fully redesigned. Featuring CBSN, 24/7 live news. Get the App