A8 Invests $100M into Social Site Kaixinai.com

Dec 2, 2011
|In Posts
|By Ben Jiang

A8 Digital Music Holdings Limited invested US$ 100 million into social site kaixinai.com, a wap/Symbian/Android based social networking service targeted the post-80s, post-90s, students and white-collar workers.

Founded by former A8 (yes, you read it right) Music CEO Lin Hai in November of last year, Kaixinai.com is aiming to be a mobile social networking service, claiming more than 1 million users as of this July.

The Shenzhen-based company’s products pipeline includes a WAP site, several symbian and Android apps, plus a mobile reading app and a WAP music site. On its website it says: “With all these nice-looking girls and guys in their lonelinesses, download the app and join us, now!” What a implicit invitation.

In this February A8 bought 20% of the company’s stake for RMB 5.3 million (US$ 835,000).

Some quick check points about the service, besides the point that its website it way too awkward to navigate on:

  • It’s directly competing with Tencent, Renren and Kaixin with intense competition.
  • Relatively uncorrelated product pipeline.