Comment on Financial Social Media Snowball Raises US$40M in Series C Funding Led by Renren by NetEase: The Best Startup Incubator in China? - TechNode

['Tracey Xiang', 'More Tracey Xiang', '.Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow', 'Class', 'Wp-Block-Co-Authors-Plus', 'Display Inline', '.Wp-Block-Co-Authors-Plus-Avatar', 'Where Img', 'Height Auto Max-Width', 'Vertical-Align Bottom .Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow .Wp-Block-Co-Authors-Plus-Avatar'] Comments for TechNode 2014-09-12 00:00:00

The Homepage of Xueqiu.comSnowball Finance (Xueqiu in Chinese), the Chinese financial social media, announced that the company has raised US$40 million in Series C funding led by Renren Inc. and joined by existing investor MorningSide Ventures. Xueqiu.com is now one of the most popular financial social networks among Chinese investors in China. The company raised Series B funding of US$10 million last year and US$3.2 million in Series A in 2011. Gaming, which used to be the only profitable business of the company, began declining from the second quarter of last year and decreased 57% year-over-year in the second quarter of this year. The company recorded a one-time gain of US$50.9 million from the sale of the stake in eLong in the first quarter of 2013.