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Car Site Xgo Receives RMB 10m Financing
Beijing-based automobile review site Xgo.com.cn has received RMB 10 million investment from an unnamed Internet sector company, Sina reported citing Xgo.com.cn's new general manager, former Tencent (0700.HK) portal QQ.com director Lin Mingjun on November 17. According to Lin, the site plans to list on the recently launched tech-focused ChiNext bourse of the Shenzhen Stock Exchange within three years, the report said.
Lin left Tencent in early October, the report said. Rumors at the end of 2007 suggested Lin was preparing to leave following a failure to "beat established portals."
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