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Xunlei acquires male-focused sports community Hupu for RMB 500 million
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TechNode
Chinese cloud service provider Xunlei has completed its acquisition of Hupu, one of China’s most prominent male-oriented online communities, for RMB 500 million ($69 million).
The deal was finalized through the purchase of Shanghai Kuanghui Network Technology, the operator of Hupu.
According to the agreement, Xunlei paid RMB 400 million ($55.7 million) in cash before the deal’s closing, with the remaining RMB 100 million ($13.9 million) to be delivered in two equal payments over the next 24 months.
Xunlei, established in 2003 and listed on Nasdaq since 2014, was once best known for its file-downloading software.
Its core products include Xunlei Download Manager and Xunlei Cloud Disk, with a reported user base exceeding 400 million.
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