USHI.CN TO OPEN SERVICE TO ALL USERS BY YEAREND

AsiaInfo Services
05-31-2011
Ushi.cn to Open Service to All Users by Yearend

BEIJING, May 31, 2011 (SinoCast Daily Business Beat via COMTEX) -- Dominic Penaloza, CEO of Ushi.cn, a Chinese social networking service provider oriented to businesspeople, reveals that the Web site plans to boost its user base from 300,000 to 10 million within two years.

Dominic Penaloza says that Ushi.cn will provide service for 40 million white collars and entrepreneurs in China. In March and April 2011, the Web site's user base doubled from 160,000 to 300,000. CEO accounts for 5% of its total user number.

Ushi.cn is considered Chinese LinkedIn. Currently, only invited users could add friends and post information on the platform of Ushi.cn. By the end of 2011, the Web site plans to open the service to all users.

Chinese Internet companies have been favored by venture capital and private equity investors in recent years. Youku.com Inc. (NYSE: YOKU) and E-Commerce China Dangdang Inc. (NYSE: DANG), claiming to be Chinese YouTube and Amazon.com Inc. (Nasdaq: AMZN), witnessed flying stock prices after their IPO in the US.

Source: www.qq.com (May 31, 2011)

KEYWORD: BEIJING INDUSTRY KEYWORD: Internet & Online Services & Media SUBJECT CODE: Internet & Online Services
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