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Oak Pacific raises US$48m for growth.

The Standard

(From The Standard)

Byline: EliasGlenn

Competition in China's rapidly expanding online advertising market grew more intense this week as one leading Internet company, Oak Pacific Interactive, which owns some of the most popular Web sites in China, announced the completion of a major round of capital- raising. Investors General Atlantic, Doll Capital Management, Technology Crossover Ventures, Accel Partners, and Legend Capital have infused US$48 million (HK$374.4 million) into Oak Pacific Interactive, whose Web properties include entertainment portal Mop.com, social networking site Uume and IT community Donews.com.

China's leading online portals such as Sina, Sohu and NetEase, face increased …

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