Hudong.com, the large encyclopedia website which is known as China’s Wikipedia, has raised RMB100m in a third round of financing.
The company intends to use the funds to accelerate its commercialization process, and promote its presence in the mobile Internet sector.
Founded in 2005 and led by CEO Pan Haidong, Hudong.com provides people with a platform for access to knowledge through the Internet.
In April 2011, the company officially launched Baike.com, a “small” open encyclopedia platform for enterprise commercialization, which has infinite sections with independent second-level domain names that focus on a particular area, thing and skill.
According to a written statement, Hudong.com contained 5.4 million articles, 5.53 billion words and 5.82 million pictures contributed by over 3.6 million users as of July 2011.
The company, which previously received an investment totalling $30m from Draper Fisher Jurvetson (in 2006 and 2009), is still in the process of raising this third round of financing.