Chinese Gaming Startup YY Files with SEC to Go Public

Chinese gaming/communication combo YY.Inc just filed with SEC for an initial public offering to offer up to $100 million ADS (American Deposit Shares) to investors.

Founded in 2005 by Li Xuelin, former editor-at-large of Chinese portal site NetEase, the startup received US$ 1 million angel investment from Lei Jun, one of the best-known figure and angel investor in China’s Internet world, upon its launch, and raised another US$ 4 million in Series A (Morningside Ventures, 2007) and US$ 5 million in Series B round (Steamboat, 2008). GGV and Tiger Fund also invested US$ 23 million and 100 million into the company respectively. See table 1.

Table 1, YY Inc. funding history

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