China's LinkedIn, Ushi, eyes big growth over next two (Reuters)

Monday, May 30, 2011 12:01 AM

SHANGHAI (Reuters) – Ushi, China's answer to LinkedIn, hopes to have 10 meg users in digit eld and to improve $5 meg in its incoming ammo of fundraising, its honcho chief said on Monday.

Ushi, which means unpaid professionals in Chinese, is the dominating professional-social networking site in China with more than 300,000 users. Its website is kindred to LinkedIn and has features that allow users to add connections, inform contacts and send messages.

"We're aiming to finally serve a rattling super assets of China's 40 meg cyberspace users who are white arrest or entrepreneurs. Call it 10 meg in digit years," Dominic Penaloza told Reuters.

Launched New terminal year, Ushi is backed by Milestone Capital, Richmond Management, Li & Fung private equity and saint Murray & Co. The concern is hoping to improve $5 meg in its incoming ammo of fundraising cod to near at modify of June.

The concern raised 10 meg yuan ($1.54 million) in its initial ammo of fundraising. ($1 = 6.493 yuan)

(Reporting by Melanie Lee; Editing by Jacqueline Wong)


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