Douban Completes the Third Round of US $ 50 Million Financing: Zhixin Capital Additional Investment (VC320)

On September 13, Douban announced that it had completed the third round of 50 million US dollars of financing, and the funds had been fully received.

Investors in this round of financing are Zhixin Capital, Sequoia Capital and Bertelsmann Asia Investment Fund, among which Zhixin Capital is also the second round of investors in Douban.

In 2006, Douban completed the first round of financing, and the investor was Lianchuang, the amount of which was 2 million US dollars. At the end of 2009, Douban received a second round of investment of nearly US $ 10 million from Zhixin Capital and Lianchuang.

Douban official said that the new round of financing will mainly be used for new product development, team building, marketing and brand work.

Douban was founded in March 2005. Its products include Douban Reading, Movies, Groups, Music, City, Douban, Douban Radio, etc. According to the data released by Douban, it currently has more than 53 million registered users.

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