China mobile app platform Wandouja gets Goldman funding

This represents Goldman's first investment in a Chinese mobile internet company. The proceeds will be used to help Wandoujia develop its mobile content search engine.

Founded in December 2010, the company started out by developing a desktop manager for Android operating systems. It focused on building an app search engine rather than an app store and claims to be the first mobile platform in China that integrates content across apps, games, videos and music.

Wandoujia was among the first batch of projects incubated by Innovation Works and in 2011 received $8 million from the Innovation Works Development Fund and DCM.

These two investors also contributed capital to the first tranche of the Series B, which was led by SoftBank Corp. The SB Pan-Asia Fund, a 2011 vintage vehicle managed by SoftBank Ventures Korea, was another new entrant to the round.

The company claims to have over 300 million users, adding in excess of 800,000 new users each day - more than 50% of daily Android shipments in China. Wandoujia debuted in-app search technology last September and launched its 4.0 mobile client for Android devices in January, expanding the search function across multiple content verticals.

"As Wandoujia continues to help mobile users discover joy, it also works with distributors and developers to form open and mutually-rewarding partnerships. We believe the mobile internet requires a more open ecosystem," said Junyu Wang, the company's co-founder and CEO, in a statement.

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• Topics
• Technology
• Greater China
• Venture
• Goldman Sachs
• Venture
• Growth capital
• TMT
• Softbank China & India Holdings
• DCM-Doll Capital Management
• Innovation Works