Beijing Internet & Media Company, Koolanoo Group Raises $25 Million
Koolanoo Group is “A China Internet & New Media Company” that runs several leading social media properties in China. Koolanoo’s 360Quan.com is the 3rd largest social network in China. Koolanoo has released their own web browser called 360Quick Browser.
Koolanoo invested $8 million over two rounds into 360Quan to gain a large ownership in the social network. The $5 million out of the $8 million was invested on December 27, 2007. Koolanoo made the $5 million investment in 360Quan about 1 month after they received $26 million in funding.
Yesterday it was announced that Koolanoo raised another $25 million. The new round of funding was led by an unnamed investor and Giza Venture Capital, a previous investor joined in. Koolanoo plans on using the funding to launch iQmail and 360TV.@amitchowdhry or on Google+ at +AmitChowdhry