|
Sunday, 21 September 2008 11:08 |
|
It’s hard to find a Chinese office worker who is not familiar with “Parking War” – an online game that has become a huge success. It spread through so-called “invitation virus". Once a user registers, the website sends out emails to everyone on his or her MSN contact list. New users who might otherwise ignore the invitation are often seduced by the presence of a familiar name on the email. An estimated 30 million users a day log onto Kaixin (in English: "happiness"), which combines a social networking service (SNS) similar to Facebook or MySpace with online games. Social networking websites such as Kaixin are extremely popular in China. They include various services to their user groups, such as xiaonei.com and 51.com that target college students; dating websites, such as Jianyuan.com, and business websites, like Tianji.com. According to the iResearch Consulting Group, the combined market value of networking services in China exceeded 500 million yuan ($71 million) in 2007, of which social networking services accounted for 280 million yuan, dating services 220 million yuan, and business sites. 4.5 million yuan. The total is expected to reach 1.6 billion yuan ($229 million) by 2011. The rules of “Parking War” are simple: each user owns a street with parking spaces. If he catches a friend parking illegally, he can ticket the offender and collect a fine. Once he earns enough (virtual) money, he can buy more (virtual) cars. Kaixin is the brainchild of Cheng Binghao, a former executive at Sina.com, China's leading web portal. Cheng has declined to comment on rumors that he has received a $5 million offer from venture capitalists. Kaixin appears to be the favorite of white collars in big cities, the most lucrative market for developers. The key is its heady combination of social networking and gaming. The gamesters are playing with people they know. Kaixin's clean layout and simple design also appeal to Chinese netizens. The users (ages between 18 and 35) love the game for its tidy and simple look, and say it provides entertainment and enhances friendship. To quote a user: "I log on at least three times a day - in the morning, after lunch, and before I go to bed.Life is boring without it." 
|
|
|
Wednesday, 30 July 2008 06:49 |
|
The source of the new round of financing raised by O.D. Kobo, CEO of the Chinese Internet investment firm, Koolanoo Group is rumored to be from the Gulf region. Koolanoo Group raised a sum of $80 million dollars earlier this month from a single source in the Middle East; at the same time, some websites have been hinting that O.D. Kobo has strong ties with influential groups in the Gulf and Russia.. Although there has been no confirmation from Koolanoo behind their new backing.
Koolanoo Group, whose current Internet holdings and operations in China have recently been valued at $500 million, has already invested $27 million in China’s booming Internet industry this year alone. How Koolanoo will use the $80 million just raised is open to speculation. One theory is that the new funds will be used to expand Koolanoo’s highly successful brand, ‘360’, which has seen the recent launch of a Smart Browser, IQ, 360Mail and 360TV. Further speculation is that Koolanoo may use the funds for developing a newly acquired web games company, which it intends to re-launch later this year as ‘360games’. Koolanoo has also linked up with a leading Chinese online sales company; the Internet industry in China can expect to see some interesting developments over the coming months as stated by O.D. Kobo. 
|
|
Sunday, 27 July 2008 08:51 |
|
Chinese internet giant, Tencent, which operates QQ, China’s most popular IM, instant messaging service, has launched a new Social Networking Site, QQ Xiaoyou, which will target high school pupils and university students in China. It is expected to challenge existing teenage websites in the country such as the hugely popular, 360Quan.com and Xiaonei.com, the Facebook look-a-like also owned by Tencent. The original Facebook, which also recently entered the Chinese market, is expected to put up a fight against the new contender. 360Quan.com is owned by Beijing based, Koolanoo Group. The website currently ranks China’s number one teenage website destination with around 30 million online users each month. Xiaonei.com has approximately 22 million members. QQ has previously tried to break into the Social Networking market in China, targeting the same market segment. Back then, in 2007, it did not enjoy tremendous success, but if it now uses its existing QQ user base, it could rocket. 
|
|
|
Sunday, 27 July 2008 08:30 |
|
Oak Pacific Interactive’s hugely popular Xiaonei.com, a Chinese social networking site and Facebook clone, has been awarded “company of the year with the highest growth potential” by iResearch. Oak Pacific will be adding this 2008 award to its catalogue, which includes its being named “future star of the 21st century” and “2006 best start-up with the biggest growth,” by Chinese Enterprise. Founded in 2002, Beijing based Oak Pacific Interactive, has grown exponentially through a series of acquisitions and organic growth. In March 2004 it bought Mop.com, the online gaming site and in October 2006 it acquired Xiaonei.com, which is a social networking site that targets young professionals and high school pupils in China. Its assets are in the region of $350 million and it looks set to enjoy further growth.
|
|
Sunday, 27 July 2008 08:24 |
|
Facebook made an unobtrusive entry into the Chinese social networking scene last week from its sunny, Palo Alto, base in California. But it may need to open a local operation if it wants to break into the Chinese social networking market. Well-established local social networks look set to hold their ground against foreign competition. Xiaonei.com, a Facebook look-a-like, recently raised $430 million extra funding to help it stave off competition from Facebook and has a growing user base that currently stands at 9.8 million; it will take some outdoing. Then there is teen social network site, 360Quan.com, owned by Beijing based, Koolanoo Group, which has some 30 million users and is reputedly China’s fastest growing SNS and its largest teen website. Giant Tencent, which is Chinese run, tops the list with a massive 105 million users on its Q-zone. Some foreign Internet companies have encountered various problems with the Chinese authorities limiting their activities and Facebook may need local management and a local base if it wants to make a stand in the local arena.
|
|
|
|
|
|