Exclusive: China's Hudong.com raising $50 million
June 11, 2012: 12:01 PM ET
Chinese encyclopedia wiki returns to VC market.
FORTUNE -- Hudong.com, a Chinese-language encyclopedia wiki, is raising up to $50 million in Series C funding, Fortune has learned.
The money is being raised, at least in part, via Xpert Financial, an online trading platform that helps private companies raise later-stage funding.
Venture capitalist Tim Draper, Xpert's chairman, recently sent an email to friends and colleagues that said:
Hudong is China's leading for-profit social knowledge platform – a wiki-enabled encyclopedia that monetizes its content through advertising. China is one of the largest and fastest growing internet and mobile markets in the world.
DFJ Dragon has invested in the Series A, B, and B-1 offerings, I have personally invested in the B and B-1 offerings—as have other leading venture capital firms—and we intend to participate in the Series C offering. I would urge you to consider this opportunity.
Hudong previously raised more than $45 million from firms like DFJ Dragon, Draper Fisher Jurvetson and Northern Light Venture Capital.
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