The second-largest American community website, Facebook.com, is now looking to purchase a Chinese site in order to break into the Chinese market.
After buying into a Chinese website, Facebook will authorize the site to use its technologies and offer brand support. An inside source said recently that Facebook gave Zhanzuo.com, a Chinese community website, a buying offer priced originally at US$85 million, then rumored to have risen to US$100 million. Zhanzuo has turned down the offer.
China has the world's second largest cyber population with 25-year-old or younger cyber citizens accounting for over 50 percent of the total. This has attracted many international investors eyeing Chinese Internet business.
For more details, please read the full story in Chinese. (http://www.morningpost.com.cn/article.asp?articleid=134748)
(China.org.cn November 5, 2007)
