China Broad Media Secures USD 10 mln in Venture Capital from Softbank and WI Harper Shanghai

China Broad Media Corporation, an online radio broadcasting and Internet value added services provider in China, has received a significant injection of venture capital totaling USD 10 mln from Softbank and WI Harper Group. This second round of financing will enable the company to further develop its multimedia services and products, enhance its brand attractiveness in China, and potentially acquire companies for business expansion. China Broad Media's strategic investment from WI Harper in 2005 had already demonstrated the profitability of its business model, and the additional investment from WI Harper in this latest round is a testament to the company's future development prospects.

Key Takeaways:

• China Broad Media received USD 10 mln in venture capital from Softbank and WI Harper Shanghai, with USD 9 mln from Softbank and USD 1 mln from WI Harper.
• The funds will be used to develop existing multimedia services and products, enhance brand attractiveness in China, and potentially acquire companies for business expansion.
• China Broad Media has broken even in 2005 and achieved a profit margin of approximately 15% at the end of the year.
• The company has a controlling joint venture with China National Radio Station, providing radio broadcasting services via the Internet and wireless internet networks with over 200,000 registered users.
• China Broad Media was founded in 2004 and focuses on providing new media services.
• This is China Broad Media's second round of financing, following its initial strategic investment from WI Harper in 2005.
• Wayne Zhao, an official from China Broad Media, stated that the additional investment from WI Harper demonstrates the company's future development and the profitability of its business model.

Statistics:

• USD 10 mln: total venture capital investment from Softbank and WI Harper Shanghai.
• USD 9 mln: investment from Softbank.
• USD 1 mln: investment from WI Harper Shanghai.
• 200,000: number of registered users of China Broad Media's radio broadcasting services.
• 15%: profit margin achieved by China Broad Media at the end of 2005.
• 2004: year of founding of China Broad Media.
• 2005: year of initial strategic investment from WI Harper and formation of a controlling joint venture with China National Radio Station.

Sources:

• INTERFAX-CHINA, "China Broad Media Corp receives USD 10 mln investment".
• China Broad Media Corporation, official press releases and statements.