What, Another IPO from China?

Justin Hibbard

Another day, another dollar, and another VC-backed Chinese company files to go public. Today it's Beijing-based Hurray Holding Co. Ltd., which provides ringtones, picture downloads, and other entertainment services to mobile-phone users in China. Hong Kong-based Fidelity Greater China Ventures Fund, an affiliate of Boston-based FMR Corp., owns 18% of the outfit. Granite Global Ventures, a Menlo Park, Calif. VC firm, owns 8%. Hurray! aims to raise up to $91.8 million in an offering led by Citigroup.

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