Receives USD 5 Million in Funding from Koolanoo Group
(BEIJING, 27 Dec, 2007) – leading social network site for teens, and one of the fastest growing website’s in China’s internet sector,
, www.360Quan.com announced today that they have secured a second round of investment capital totaling USD 5 million from Koolanoo Group—the boutique Chinese Internet investment firm held by Internet maverick & tycoon O.D. Kobo. The investment will be used to accelerate the company’s already rapid development, allowing it to add personnel, enhance existing technologies and launch the much anticipated customized Mail & browser services. With this support, 360Quan.com will open a new chapter in its already impressive history.
“Koolanoo Group and 360Quan.com have successfully worked together in the past and will contribute to each other’s future growth,” said Mrs. Dong Binghui, Director of 360Quan.com. “These funds will help us reach our goals for 2008 and allow us to continue providing our users with new features and unique social services”.
Since its founding less than one year ago, 360Quan.com has been a ‘local phenomenon’ – legendary success story in China’s Internet community. Today, more than 22 million people use 360Quan.com every month, making 360Quan.com one of the fastest-ever growing social networking sites (SNS) in China. “We are making history every day,” said Dong. “For 10 months we’ve been climbing the list of China’s top 10 SNS communities. We expect to top that list this coming year .”
Recently, 360Quan.com has been adding an array of new features and functions, moving its online offering beyond the traditional SNS. 360Quan.com General Manager- China Mr. Chen Qi remarked, “We are proud to be bringing our users new features and products, like 360Qmail, which will be coming very soon. We are driving an experience revolution by providing our users something truly different and cool.”
360Quan.com has built its reputation by engaging China’s teenage Internet community with the most complete range of communications tools for web surfers to use to express themselves. With more widgets, more features, , more mobile friendly activities and more content, the web site provides unparalleled opportunities for teenagers to make friends and customize their social networking experience. “At our core, we are just a bunch of Internet ‘junkies’ that believe in the future of the Chinese Internet,” said Chen. “Our goal is clear and simple: to create the best social network for ourselves, our friends, and the whole Chinese community.”
With a significant focus on Chinese new media ventures, Koolanoo Group has successfully realized its investment target of USD 20 million by Q1 2008 announced inJuly . This move consolidates Koolanoo Group’s position as a leading, strategic investor in China’s Internet market. “360Quan.com’s success confirmed the accuracy of our vision. With ample investment capital, I can confidently say that we are participating in the Chinese internet with our vision and raw energy,” said Mr. O.D. Kobo, Koolanoo Group Chairman and CEO. “China is the single most important and exciting online market in the world today. Koolanoo Group hopes to emulate the future of online in China: aggressive, fresh, ambitious and determined.”
Media friends, ladies and gentlemen, good afternoon.
First, I would like to extend a warm welcome to all of the journalists who have taken the time to attend this press conference today.
I am glad to be making new acquaintances and to see our old friends again for this special occasion. On behalf of 360Quan, I would like to wish all of you a healthy, happy and successful new year in 2008.
It is my great pleasure to bring everyone here today to share a piece of exciting news:
360Quan has just closed a deal to secure a second round of funding from Koolanoo Group totaling 5 million USD dollars. Koolanoo Group has been a great and valued partner to 360Quan, and its CEO—Internet maverick and tycoon O.D. Kobo—is a close friend.
This investment will be used to accelerate our company’s already rapid growth. With the additional funds, we will increase our staff, boost our marketing activities, and upgrade our R&D and technological infrastructure.
But most importantly, I am thrilled to announce that with this new investment we will soon be launching 360QMAIL – a customized email system and browser! We are all very excited about this new feature, which will be exclusively available for 360Quan members.
Koolanoo Group has also communicated its pride and excitement in its investment in 360Quan.com, which has definitely demonstrated great success.
Thinking back ten months ago to 360Quan’s launch, I am very confident about our company’s future. 360Quan.com has had record-breaking visits from the very start, and today more than 22 million people play on the site every month. (important to use the word ‘play’)
Our community continues to rapidly grow, with more and more young people visiting and registering on 360Quan everyday. Their support has made 360Quan one of the fastest growing web 2.0 sites in China today and definitely one of the fastest growing SNS success stories in China’s Internet history.
Few sites have had such amazing growth and encouragement among the online community. The site has truly been an Internet uprising; we call it…’A LOCAL PHENOMENON’
As 2007 comes to a close, we have quite a catalog of accolades to report: We are already listed as the 8th largest community based site in China and one of China’s top 5 social networks. We were also awarded a golden badge by China’s Internet Index System (CIIS) and Chinalabs for being one of China’s top 100 web sites.
With this additional funding, 360Quan will hit the ground running 2008. We will continue to stun the online world with our explosive growth, our ambition and our energy—engaging China’s young Internet community as nobody else can.
I would like to take this opportunity in front of the press to again express my most sincere thanks on behalf of 360Quan to the Koonaloo Group and the new architect of social networking in China Mr. O.D. Kobo for your vision, confidence and belief in 360Quan.
Lastly, I’d like to thank all our friends from the media for coming here today and sharing in this exciting announcement.
Ladies and gentlemen, friends from the media, good afternoon!
First of all, I would like to say what a great honor and privilege it is to meet with so many journalists here today. I wish you and your families a very happy and successful New Year!
2007 was an incredibly exciting and successful year for us, and 2008 promises to be no less exhilarating. 360Quan just secured an additional five million dollars of capital from the Koonaloo Group and we will be launching the highly-anticipated 360Qmail very soon.
We are delighted to have the continued support of the Koonaloo Group, a leading strategic investor in the Chinese Internet market. We also want to send a personal thanks to Koolanoo Group’s CEO and our old friend, Mr. O.D. Kobo, the guy who eats, sleeps, breathes, dreams and bleeds China. With his ongoing friendship and backing, 360Quan has become one of China’s leading social networking web sites today.
This investment is no doubt a further validation of our leading position in providing valuable services and solutions to our users. We are journeying forward together to create the best online community out there.
This new round of funding gives us the ability to serve our users even better and take our business to the next level.
360Quan.com was created to provide our users with an interactive and diversified online community experience. 360Qmail will be launched shortly with many attractive features. For example, 360QMail will allow users for the first time to costumise their email’s settings, profiles and privileges for outgoing and incoming mail as well as overall mail settings. it will also provide a customized internet browser via the mail system our users are sure to be impressed by the software’s robust and personalized system
Our web site is unique because it has so rapidly captivated a large percentage of China’s online population, especially amongst teenagers. For me, this is a beautiful thing to witness and help make a reality. My biggest thanks goes out to the 360Quan users for their continued loyalty and support.
I would also like to thank you, Ladies and Gentlemen, for attending today’s exciting announcement.
Have a great afternoon, and make sure to come check out the site at 360Quan.com.
When she graduated from university in her 21, Ms. Dong gave up her major of Biological Engineering and joined Oriental Program in its starting stage and became the youngest director in CCTV. Then she acted as the main director for another program Discovery. In 2002, the program “Finding Yunnan snub-josed monkey”, directed by Dong was awarded in TVE, British Natural Film Festival. It was the first time for Chinese to get the award in this festival.
In 2003, Dong joined Conservation International China Program, one of the largest nature protection organizations in world, and acted as project coordination director in its starting time. She worked hard for advocating environmental protection concept, and coordination among public, environmental protectors and local communities. She moved to Israel and worked then in high tech and internet companies.
In January 2007, she was back to the media world, invited by O.D.Kobo, CEO of KOOLANOO Group. Where she acts as Director of 360Quan
With years of experience in media and projects, Ms. Dong is deeply aware of the charm and importance of communication. She earnestly hopes that 360Quan can help Chinese young people find more friends with same interest to share and build this site a funny and effective platform for them to communicate.
Just as 360Quan’s company culture to advocate young and diversity, his experience is likewise diversified. With background of economy and finance in university study, he began to be involved in internet since late 1990s. He was an active figue in BBS of Tsinghua University, which is a heat university forum. He’s got crazy love on internet and his personal site was rewarded as the top 10 distinguishing personal website by Life Weekly Magazine, and he is one of the earliest bloggers.
When working in CCTV, he once climbed onto the camp on the Everest with 7,000 meters above sea level; and flied on fire balloon across the Three Gorges. He planned and executed a series of TV and internet programs for CCTV. Out of love on nature and life, he joined Conservation International China Program, one of the largest nature protection organizations in world. He spent most of his time in the poorest suburban areas in high lands and Tibetan altiplano, hanging along with local people. During his work there, he also led a project to shoot film for Chinese villages supported by National Geography. He traveled ceaselessly in every inches of Tibet and participated a web2.0 site planning as an independent internet consultant. He’s got various background and broad interest for young attitude, loving travel, nature and internet. These are the main parts in his life.
He is now back to the internet in 2007, building 360Quan together with his friend KOBO. He believes that groups can change a person’s life and the core of internet is people’s relations. He worked hard to build 360Quan a unique platform for young people in their social network.