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Chinese Social Network TongXue Gets $6 Million Funding

This story was written by Rafat Ali.
They are still funding social networks in China: TongXue, a Chinese social networking site aimed at students (TongXue literally translates into "classmates"), has received $6 million in its new round. The round included multiple investors including Tano China Private Equity Fund, a part of an alternative asset management firm founded by Charles "Chuck" Johnson, formerly co-President of FranklinTempleton Investments and CEO of Templeton Worldwide.

The site was founded as in May 2006 and changed its name to in March 2008. It was first positioned as a community website for Chinese students studying in the U.S., but then expanded locally into China a year later. Some more details in release.

By Rafat Ali