Easou Raised $12M in 3rd Round of Financing

(Business News & Technology News, 1 Dec 2008)

YETI Group Ltd (Easou), a mobile search company, successfully completed its 3rd round of financing for further R&D, marketing, and geographic expansion. iD TechVentures and AXA Private Equity are the lead investors of this round of financing.

Based in Shenzhen, Easou is an innovative mobile search service provider founded in 2005. The company aims to become the leader in the mobile search industry, and has built up a strong technology platform, large user base, and nationwide distribution channels with over Rmb100 million annual revenues. Easou was ranked as the No. 1 mobile search company by iResearch in its newly issued research report "2008 China Mobile Search Industry Development Report".

"We are pleased and excited by the support we have received from the financial investors amidst difficult funding environment," says Frank Wang, CEO, Easou. "We firmly believe in the bright future of the wireless internet business in China, and will continue to provide the mobile users with high-quality and easy-to-use mobile search services."

"Easou is a venture with exciting possibilities," adds Frank Lu, Managing Partner of iD TechVentures. "I believe the mobile search market has both opportunities and challenges, and Easou is well positioned to win over the competition with its innovative technology and strong execution capabilities."

"We believe there is a strong case for mobile search in China. We are delighted to partner with iD TechVentures to support Easou, the leading start-up in this market," says Ivan Bernard-Brunel, Director of AXA Private Equity.

Click here for more information on Easou

Click here for more information on iD TechVentures

Click here for more information on AXA Private Equity