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Report: Viadeo, Tianji Merger 2nd to LinkedIn
Beijing-based business social networking service (SNS) platform Tianji.com confirmed on March 23 that it has been acquired by European business SNS Viadeo in a deal involving RMB 100 million, reports Sina. According to the report, Viadeo will become the world's second largest professional SNS site, behind LinkedIn, through the merger. Viadeo became profitable in 2008, said the report.
Viadeo and Tianji.com entered a strategic partnership wherein Viadeo took a "significant stake" in Tianji.com in March 2007. In August of the same year, Viadeo announced that it had raised 5 million euros from existing investors AGF Private Equity and Ventech.
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