Online Chinese bookseller Dangdang.com has received US$30 million in venture capital.

Local media report that four investors, including Doll Capital Management and Walden International, made the investment for a 12% stake in the Chinese online bookseller.

Dangdang may use the investment for expanding into other new services. The company tried B2C services earlier this year with lackluster results.

Dangdang.com was founded in 1997 by Li Guoqing and Peggy Yu. It has claimed itself to be the largest online Chinese bookseller in the world.