Sing it with me: Ah, ah, ah, ahh, stayin' alive, stayin' alive...
The Chinese social network Kaixin has announced its 2011 results – and despite a rough year that saw folks move towards using Weibo rather than its Facebook-like site, it was mostly good news. Guo Wei, the company’s VP, told the media that Kaixin saw its revenue rise 41 percent last year, rising to 380 million yuan (US$60.3 million).
The site, also known as Kaixin001, puts great emphasis on social gaming, and hosts – as well as produces – a number of popular casual gaming titles. Mr. Guo revealed that the site will continue to roll out new games in 2012, as well as focus more on mobile in general, and social e-commerce in particular.
Perhaps more pertinently, Kaixin also revealed its user stats: 130 million registered users and 60 million monthly active users. That contrasts with the 250 million registered on Sina Weibo, or the 300 million signed-up to Tencent’s own microblogging service. Renren.com (NYSE:RENN) remains China’s most popular broad social network.
[UPDATE Feb 17th – After reaching out to Kaixin, we’re told by the company that the ’60 million’ figure was “in reference to a 2011 ballpark revenue figure” that is the “top-line unaudited” (in USD) number being bandied about internally, and was not meant to be applied to user numbers. It was, we’re told, used mistakenly by Mr. Guo. We’re also informed that Price Waterhouse will do a routine audit of the company soon. We’ll update in a new post if we get some official stat for active users].
China’s social media behemoth, Tencent (HKG:0700), actually owns a significant but non-controlling stake in Kaixin, which happened last November.
[Source: TechWeb – article in Chinese]
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
