M&A Heating Up Among Chinese Startups?Justin Hibbard
The Beijing News reported last week that Chinese blog startup Bokee is planning a series of acquisitions before year-end. Beijing-based Bokee, which hosts Chinese blogs and makes money from advertising, raised $10 million this summer from Silicon Valley VC firms Bessemer Venture Partners, Mobius Venture Capital, and others. Bokee will use some of that money for acquisitions. The company's chairman, Fang Xingdong, told TBN that Bokee has been speaking with about 10 Chinese startups, including financial Web site Hexun. Hexun editor-in-chief Liu Jun told Chinese news site Sina.com last week that Hexun is considering various options, including being acquired, and that Hexun may make some small acquisitions, too. Read more here.