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Video site popcorn 6 million investment in Hangzhou government

In the video industry in general downturn in 2009, came the first news about the investment and state-owned capital from the government led.

recently, sources told the "daily economic news" revealed that the video site has been quietly popcorn net headquarters moved from Beijing to Hangzhou, the company also won the Hangzhou municipal government investment of 6 million yuan, the message is expected to be formally announced in early April. At the same time, in 2007, has invested popcorn network of an overseas company, is expected this year will continue to increase the amount of between 10 million ~2000 million u.s.. Website CEO said the venture is willing to continue to invest, and the site may be related to the development of new models.

government funds allocated 6 million yuan

the above message has been confirmed by popcorn net CEO Zhao Pinhong. It is understood that the investment funds from the Hangzhou municipal government venture capital fund, the municipal level and district level government joint Vc firms invested 6 million yuan, the money will be gradually put in place in April this year after.

insider, popcorn relocation began with a discussion of the intention in December last year, the Hangzhou municipal government and the Beijing Zhejiang will. At the meeting, Hangzhou mayor Cai Qi proposed, hope that more enterprises in Zhejiang to return home, to participate in the construction of Hangzhou paradise Silicon Valley, according to the company’s headquarters in Hangzhou, the Hangzhou municipal government will give strong support in terms of policy and capital.

due to the financial crisis, the current video industry downturn, coupled with the need of capital support, immediately decided to relocate popcorn net. More than a month later, the popcorn network in Hangzhou set up a new head office, making Zhejiang province has the first private video license. Hangzhou municipal government also fulfills the promise, rushed instructions to guide venture capital funds issued in 2009.

Zhao Pinhong said, compared to the video website previously acquired 10 million U.S. dollars in venture capital, the amount of 6 million yuan is not large, but the nature of government investment in entrepreneurial enterprises, is a recognized the value of their own.

venture capital or additional $10 million investment

March 2008, the Hangzhou municipal government investment fund was established, the Hangzhou municipal government has said "government venture capital fund aims to play ’42 pounds’ role model, inspire more social capital investment".

data show that there are already a number of domestic and foreign venture capital institutions with the government, but also to increase the large amount of investment companies.

, the daily economic news reporter learned from a source, in 2007 the mystery of popcorn overseas venture capital companies may also follow the guidance of the fund, and then a new round of investment. According to verification data, this was not yet known as the Asian investment fund, in fact, Singapore’s venture capitalists, by the end of 2007 the two sides jointly set up a BVI company, of which popcorn network to 30% of the company’s shares, financing 1700>

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