Invite colleagues
Chinese lifestyle information website Ganji.com is planning to acquire its counterpart 263.com for over CNY10 million. This news was confirmed by representatives at Ganji.com where it was said the two parties have reached an agreement.
So news on the web suggests that the two companies have been talking about a general cooperation for a while. It seems the promise of 263.com was unrealized and given Ganji.com wanted to expand, this opportunity seemed to make sense.
Founded in February 2005, Ganji.com is now a leading lifestyle information platform in China and it has opened branches in 343 cities across the country.
263.com is a subsidiary of the Chinese Internet company 263 Network Communication Co. Ltd. Entering the Internet sector in 1999, 263 Network Communication announced plans to demerge eight services formerly belonged to 263.com in 2006. After that, 263.com shifted to a lifestyle information website.
Given the difficult past year for online Publishers, I am expecting further reports from the Internet sector on mergers in the next few Qrt's.
Source: China Tech News
Written on Friday, 08 January 2010 13:17 by Matt McDougall