Cheetah Mobile Raises US$60M for Business

Cheetah Mobile Inc. (NYSE: CMCM), a Beijing, China-based mobile internet company, is to raise an aggregate of US$60m.

Backers included Matrix Partners China, Evolution Media China, Gobi Partners, IDG Capital, Welight Capital as well as Cheetah Mobile.

Upon completion of the transaction, Cheetah directly holds approximately 70% equity interest in Inc., and retains control over the business.

Led by Mr. Sheng Fu, Chief Executive Officer, Cheetah Mobile provides apps for mobile users worldwide via utility applications such as Clean Master, CM Security and Battery Doctor and mobile content-driven applications such as News Republic and, which all together provide advertising customers with direct access to highly targeted mobile users and global promotional channels.



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