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Media - Monday, January 29, 2007

More China Action: RedBaby and Go007 Funded

We continue to see VC investment in what can best be described as Chinese portals. Given that China's Internet landscape is a beat or two behind the scene in the US and Europe, it is interesting to see what lessons are being applied. For now it seems that investment is going into the basic sites.

Goungzou-based Go007 has raised $5M from an un-named Dutch VC firm. The company seems at first be like Craigslist with boards on jobs, dating and buying stuff.

Beijing-based children's goods retailer Redbaby (www.redbaby.com.cn) will complete its third round of financing in May, reports Shanghai Securities News. Redbaby plans to increase the number of its subsidiaries from six to 20 over the next two years. So we see this as a clear Amazon knock-off, however it seems that unlike Amazon, Redbaby will not have one site. Redbaby acquired pregnancy and infant health care site Ahua.com in late 2006 soon after receiving US$10 million in investment from Northern Light Venture Capital and New Enterprise Associates in November 2006.