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Rumor: CNET Acquires Chinese Auto Site  

Posted on Jul 24, 2006 | 19:07

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CNET has acquired Chinese automobile community website Xcar.com.cn for US$10 million, according to a rumor reported by Netease. Xcar was founded in August 2002 and provides automobile information and group-purchasing services. Xcar has set up branches and clubs all over China. The website generates revenue from advertising, and boasts 300,000 registered users.

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