China.com, a leading Internet services provider in China and a Hong Kong listed subsidiary of CDC Corporation, announced that it has acquired a five percent interest in Beijing Menlo Network Science Limited, the owner and operator of Menllo.com, a leading Web 2.0 online community in China.
Under the terms of the agreement, China.com will provide Menllo.com with strategic market coverage for one year in exchange for the five percent interest. China.com will have the right to appoint a director to the Board of Menllo.com and will have the option to increase its holdings in Menllo.com in the future.
With a large and fast growing user base across China, Menllo.com is a platform that empowers individuals to share music, videos, journals, photos, whiteboards and more with their friends, and find people with common interests.
It is a popular online destination for emerging musicians, writers, photographers, and a variety of other talents. By collaborating with China.com, Menllo will utilize the extensive market coverage of the CDC family of companies including millions of visitors to China.com, millions of growing subscribers of CDC Mobile, and more than 42 million registered users of CDC Games. For instance, much of the user-generated content on Menllo.com will also be made available on mobile phones through CDC Mobile's 3G services.
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