IDG backs spin-out of Phoenix New Media's apps division
IDG Capital Partners has agreed to support the spin-out of Hong Kong broadcaster Phoenix New Media's apps business as it looks to accelerate development in China.
Phoenix New Media said the IDG-Accel China Growth Fund III and IDG-Accel China III Investors will invest "millions of US dollars" in Phoenix FM Apps once it is restructured as a separate entity from its...
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