51.com Raises $51 Million From Giant Interactive For 25% Equity

Amit Chowdhry | Tuesday July 1, 2008 | 1,036 views

Giant Interactive Group Inc. (NYSE: GA) has acquired 25% of Five One Network Development (51.com) for about $51 million. 51.com is a Chinese social network that is the largest in China. The site has about 120 million users and receives about 31.5 million uniques per month.

The 35 million unique visitors per month log in to site approximately 18 times per month. Daily page views are roughly 350 million according to 51.com. Previous investors in 51.com include Intel Capital, Sequoia Capital China, SIG, and Redpoint Ventures.

Giant Interactive is based in Shanghai, China. They are the third largest online gaming company in China. Giant’s net revenues in 2007 was about $209.4 million .