Chinese Facebook clone secures USD4-5 million in venture capital

Adding to the list of Chinese social networking service providers like Xiaonei and Tencent, kaixin001.com (开心网) has confirmed to have secured USD4-5million in venture capital today from Northern Light Venture Capital headed by Feng Deng, one of the top 10 Chinese venture capitalists in 2007. Launched in April this year, the SNS that is still a private beta already boasts over 20 million active users. Rick Martin (@pandapassport) reports on CNET that the Chinese Facebook clone includes features such as a photo uploading, blogging & micro-blogging platform, music sharing and 1GB online storage space.

Tangos Chan of cwrblog.net comments that the popularity of Kaixin001 is attributed to the Parking Wars and Friends for Sale games hosted on the platform.