Hugo Shong, IDG recognized STORM dollar investment to exit the form of investment of RMB

IDG Executive Vice President and Global Hugo Shong, president of Asia in an interview revealed that some of the media, IDG STORM dollar investment has quit to form investment of RMB Storm, "after a period of observation, and the storm now even more suited to the domestic market. "

Said Hugo Shong, IDG had indeed invested in dollars STORM, originally planned overseas listing, but after observation, the storm is more suitable for the present situation of domestic market, so U.S. investors have withdrawn from IDG. But he did not disclose the timetable for the storm as well as details of the domestic market.

According to informed sources close to the storm, the storm Recently a high profile since the declaration of a comprehensive online platform, including removal of Storm players, storm information, storm the box and the TIPS hot all the vulgar, low-end advertising is to do the preparatory work for the domestic market.

Earlier media reports said the storm video has been completed capital transformation, the original dollar fund Matrix Partners and IDG basic exit, CITIC Securities and Huawei's investment in its stone RMB investment.

Transformation is complete, the country is preparing STORM GEM.

The above reports, STORM CEO Feng Xin gave denied and insisted that remain listed on Nasdaq. It is understood that a total of more than 3 Storm video round of financing. October 2006 and April 2007, the first two rounds of financing Storm video input by IDG, the amount was $ 3,000,000 and $ 6,000,000. December 2008, Storm video obtained by the latitude and longitude of China (Matrix Partners China) the main cast, IDGVC with the total investment amount of $ 15,000,000 in the third round of financing.