Highland Capital Partners and Redpoint Ventures Join World Class Team
BEIJING, Nov. 15 /PRNewswire/ -- Qihoo, a search solution provider on
the Internet and mobile platforms in China, announced today that it has
raised US $25 million in the initial close of a Series B financing.
Highland Capital Partners led the round with participation from Redpoint
Ventures and earlier investors Sequoia Capital China, CDH, Matrix Partners
and IDG Ventures. In conjunction with the financing, Dan Nova of Highland
will be joining Qihoo's Board of Directors. Highland's Chuan Thor and
Redpoint's David Yuan will also be joining as Board Observers.
"With the addition of Highland and Redpoint, we have assembled the
finest investment team in the world to help us achieve our next stage of
growth," stated Hongyi Zhou, Founder and CEO of Qihoo. "Together, over the
last decade they have helped to pioneer and build such online brands as Ask
Jeeves, MySpace, MapQuest and Lycos. The financing round represents further
endorsement of our progress to date and business plan moving forward."
Qihoo is the leading user-generated content (UGC) search engine and
personalized aggregation portal for Internet and mobile platforms in China.
Optimized for UGC discovery, Qihoo aggregates popular content from news
sources, blogs, online communities, bulletin board services, video and
photos to deliver real time entertainment and lifestyle information.
"We've been globally searching for a scalable platform that provides
UGC discovery and aggregation services," added Dan Nova, Managing General
Partner with Highland. "We found it in China with Qihoo and are excited to
work with such an accomplished team on a next generation solution that is
tuned to Web 2.0 content sources."
About Qihoo
Based in Beijing, Qihoo is a search solution provider on the Internet
and mobile platforms in China. Its underlying technology is uniquely
focused on searching, accessing and presenting relevant information from
the tremendous and rapidly growing amounts of user generated content
available online. The company is led by visionary founder Hongyi Zhou, who
sold 3721, a leading Chinese internet search engine and marketing company,
to Yahoo! and later was President of Yahoo! China. More information can be
found at http://www.qihoo.com.
About Highland Capital Partners
Highland Capital Partners was founded with the mission of helping great
people build great companies. Since its inception in 1988, the firm has
taken a sector-focused approach to investing in exceptional information
technology, communications and healthcare companies. With over $2.6 billion
of committed capital, Highland has invested in and worked to create such
firms as Ask Jeeves, Avid Technology, Be Free, CheckFree, Conor Medsystems,
Continental Cable, Lycos, MapQuest, Ocular Networks, Sybase, Telica,
VistaPrint and WebLine Communications. For more information, visit
Highland's web site at http://www.hcp.com.
About Redpoint Ventures
Redpoint Ventures was founded in 1999 by partners from two of the top
firms in the venture capital industry. The firm is focused on funding
innovative companies that have the potential to define, lead, and change
industries. Redpoint partners have many years of experience and success in
technology investing; combined with this foundation, the firm is able to
leverage a thriving network of entrepreneurs, partners, and industry
experts to accelerate building market-leading companies. Redpoint
(http://www.redpoint.com) is headquartered in Menlo Park, CA with offices
in Los Angeles and Shanghai, China.
For more information, contact:
Billee Howard
Weber Shandwick Worldwide
+1-212-445-8355
bhoward@webershandwick.com
SOURCE Qihoo
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Related links:
http://www.qihoo.com
http://www.hcp.com http://www.redpoint.com
CONTACT:
Billee Howard of Weber Shandwick Worldwide,
for Qihoo, +1-212- 445-8355, bhoward@webershandwick.com
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