Shanda Invests in Recipe Site
Beijing-based recipe sharing site Douguo.com has obtained first-round investment worth up to RMB 10 million from Shanda Interactive (Nasdaq:SNDA), Beijing Times reported June 24. The funding will be directed towards new product development and talent recruitment, the report said. Douguo will release a new version of its site at the end of June, the report said.
The site was founded in early 2008 and had recorded approximately 100,000 members by mid-June, company founder and CEO Wang Yuxiang said in the report.
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