Chinese Facebook Replica TongXue Raises $6 Million
TongXue is a Chinese social network that is similar to Facebook. Even the homepage looks just like Facebook, but with different colors. TongXue means “classmates” in Chinese. TongXue has raised about $6 million in a new round of funding according to paidContent.
One of the investors includes Tano China Private Equity Fund. Tano was started by Charles “Chuck” Johnson, the former co-President of FranklinTempleton Investments. TongXue was originally called FaceRen.com.
“The investment by the Tano China Private Equity Fund I is designed to provide expansion capital for TongXue, which is well positioned in the rapidly growing internet oriented social networking space in mainland China,” stated Chuck Johnson.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry