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Article: IFENG.COM TARGETS NEXT-GENERATION PORTAL

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AsiaInfo Services
Article date:
November 10, 2009
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AsiaInfo Services
11-10-2009
Ifeng.com Targets Next-generation Portal

HONG KONG, Nov 10, 2009 (SinoCast Daily Business Beat via COMTEX) -- Although it has been outdated to talk about portal strategy in current Internet industry, new media operator ifeng.com still aims to become a leading portal.

On November 9, ifeng.com announced that an agreement had been inked with Morningside Ventures, Intel Capital, and Bertelsmann, according to which it will get USD 25 million from the three investors.

After the capital infusion, Phoenix Satellite Television Holdings Limited (SEHK: 2008) remains as the controlling shareholder of ifeng.com. But its stake will be diluted from 77% to 58.61%.

Ifeng.com ...

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