Editorial Summary

Chinese university-focused SNS site Zhanzuo.com expects to receive third round investment of tens of million of dollars as early as year end, reports Reuters quoting Zhanzuo CEO Zhang Fan on May 13. Zhang said the company is in touch with investors regarding a deal, and that new capital will be spent on server purchasing and acquisition plans. Zhanzuo.com has seven million registered users, including two million active users, and over 60 employees, according to the report. One half of company employees are dedicated to technology, said the report.

Zhang said the majority of domestic SNS sites do not generate profit and Zhanzuo.com mainly focuses on advertising revenue. Zhanzuo received first round investment of $5 million from Sequoia Capital China in July, 2006 and second round investment, rumored to be $7.2 million, at the end of last year.