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Google Invests US$1 Million Into Chinese Tech Startup
March 26, 2008 |
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Google (GOOG) has announced a US$1 million investment into Comsenz, an online community network technology provider in China.
Reports of Google's investment in Comsenz were first seen in Chinese media in August last year. At that time, it was reported that Google would put roughly US$5 million into the Beijing-based company. Prior to that, Michael Moritz, a venture capitalist and former director of Google, had invested in Comsenz.
Google says that its investment in Comsenz has been approved and it is working with the concerned parties on the transaction. Google probably hopes to further enlarge its influence in China and expand its client base in the country through the investment in Comsenz.
Comsenz, whose affiliates include Discuz! SupeSite and ECShop, mainly provides technology support to China's BBS, blogs and websites.
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