www.allyes.com Receives Heavy Venture Capital

US venture capital firms IDGVC and OAK have successfully created another largest-ever venture capital injection in the Chinese Internet industry. They jointly invested USD 30 million in www.allyes.com, a Chinese "ad on-line" advertisement management service provider. www.allyes.com chief executive officer Zhu Hailong welcomed the cash injection, believing it could create new streams for growth and more jobs. A partner of IDGVC is glad with IDGVC's partnership with OAK, and has vowed to continue supporting the Chinese online marketing company as what it has done over the past five years. www.allyes.com, founded in 1998, has established branches in Beijing, Shenzhen, Tianjin, Wuhan and Chongqing. It is headquartered in Shanghai, southern China's most prosperous city and China's traditional financial centre.

Source: SinoCast China Business Daily News (Abstracts)

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