Predict your next investment

Corporation
600633.cn

See what CB Insights has to offer

Investments

9

Portfolio Exits

3

About Zhejiang Daily Digital Culture

Zhejiang Daily Digital Culture (SHA: 600633), dba Zhebao Media, is a Chinese media group that focuses on building Internet news and digital entertainment platforms.

Zhejiang Daily Digital Culture Headquarter Location

No. 178 Stadium Road

Hangzhou, Zhejiang , 310039,

China

+86 0571-85311338

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Latest Zhejiang Daily Digital Culture News

[Updated]Shanda Selling Two Gaming Subsidiaries - TechNode

Jan 25, 2013

Apr 10, 2012 0 After a buying spree over the past few years, Shanda , the Shanghai-based gaming vendor now started selling its assets. ZheBao Media (or 浙报传媒), a media group in China eastern Zhejiang province announced yesterday to acquire CGA.com.cn and GameABC.com for RMB 3.5 billion (310 million and 3.18 billion for each) from Shanda. CGA is a leading Chinese electronic sports platform while GameABC is a popular board gaming portal. Shanda bought the two at US$ 20 million and US$ 56 million respectively in 2004, right before Shanda sold its shares publicly on NASDAQ. Screenshot of GameABC.com screenshot of CGA.com.cn With more than 200 million registered users and a monthly active user base of over 12 million, CGA generated a profit of RMB 15.39 million on revenue of 58.85 million while GameABC which claiming 3 million monthly active users across all its portfolio platforms pulled in a profit of RMB 144 million on revenue of 401 million in last year. The sell doesn’t sound quite right to many. How come a media company with no prior experience in managing any gaming business wants to buy – two – gaming companies at once. One speculation according to people close to Shanda is that the company has been showing greater interest in media practice lately. The selling might help Shanda became a shareholder of Zhebao Media. Jiang Guoxin, GM of Zhebao Media is an independent directors sitting on the board of Shanda Games. The good connection between Shanda and Zhebao Media could be served as the foundation for their further and deeper cooperation. After got listed in China, Zhebao media is in active pursuit of new media business, the acquisition might do some help on that front. On the other hand, since Shanda utilized hordes of cash (about US$ 2.3 billion) to privatize the company, it might also be in need of money. And let’s do not forget that Shanda always has a dream of becoming China’s Disney , still remember that couple years ago the company tried to buy Sina, the largest Chinese news portal? The deal fell apart due to Sina’s resistance, but the dream, never fades away. Updated: Zhang Jing, SVP and spokeswoman of Shanda commented on the acquisition on Sina Weibo that “the deal will be forging a long-term, comprehensive cooperation between the two companies.” According to the Strategic Cooperation Memorandum signed by Shanda and Zhebao Media, they’ll be teaming up on many fronts like screen writing, digital reading, 3rd party payment solution, Shanda Online interactive online advertising service, sharing of clients, set up of JV and so forth. It seems that Shanda never ditched its Disney dream. In no need of explaining everything to shareholders now after its privatization, Shanda now is moving faster and closer to its  initial dream.

Zhejiang Daily Digital Culture Investments

9 Investments

Zhejiang Daily Digital Culture has made 9 investments. Their latest investment was in City Cloud International as part of their Series D on July 7, 2021.

CBI Logo

Zhejiang Daily Digital Culture Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

7/7/2021

Series D

City Cloud International

$154.64M

Yes

7

5/20/2021

Series A

Subscribe to see more

$99M

Subscribe to see more

10

6/28/2018

Series A

Subscribe to see more

Subscribe to see more

10

3/12/2015

Series C

Subscribe to see more

Subscribe to see more

10

10/1/2014

Series A

Subscribe to see more

$99M

Subscribe to see more

10

Date

7/7/2021

5/20/2021

6/28/2018

3/12/2015

10/1/2014

Round

Series D

Series A

Series A

Series C

Series A

Company

City Cloud International

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Amount

$154.64M

$99M

$99M

New?

Yes

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

7

10

10

10

10

Zhejiang Daily Digital Culture Portfolio Exits

3 Portfolio Exits

Zhejiang Daily Digital Culture has 3 portfolio exits. Their latest portfolio exit was 100credit on March 31, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

3/31/2021

IPO

$99M

Public

7

11/5/2019

IPO

Subscribe to see more

$99M

Subscribe to see more

10

7/4/2013

IPO

Subscribe to see more

$99M

Subscribe to see more

10

Date

3/31/2021

11/5/2019

7/4/2013

Exit

IPO

IPO

IPO

Companies

Subscribe to see more

Subscribe to see more

Valuation

$99M

$99M

$99M

Acquirer

Public

Subscribe to see more

Subscribe to see more

Sources

7

10

10

Zhejiang Daily Digital Culture Acquisitions

2 Acquisitions

Zhejiang Daily Digital Culture acquired 2 companies. Their latest acquisition was CGA.com.cn on April 10, 2012.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

4/10/2012

$99M

Acquired - II

1

4/10/2012

Subscribe to see more

$99M

Subscribe to see more

10

Date

4/10/2012

4/10/2012

Investment Stage

Companies

Subscribe to see more

Valuation

$99M

$99M

Total Funding

Note

Acquired - II

Subscribe to see more

Sources

1

10

Discover the right solution for your team

The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.

Request a demo

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.