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Rumor: Sina Takes Stake in SNS Site Kaixin001
An unnamed media source claims that Sina (Nasdaq:SINA) has obtained stake in Beijing-based social networking service site Kaixin001.com as a strategic investor, reports Sohu.
Sina did not comment on the news, said the report. Qiming Venture Partners, the SNS site's existing investor, also had no comment, while Kaixin001.com founder and CEO Cheng Binghao could not be reached by phone, said the report.
Cheng said in late October that Kaixin001 had grown to more than 60 million users, up from 40 million in July, while the site's user total was increasing at a rate of more than 200,000 per day.
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