Chinadotcom announced to sell its Internet portal business to Guoguang Global Media Holdings Limited, for HKD 90.80 million  ($11. 8mn). The board decided to sell the non-profitable business so as to better allocate the existing resources, according to its statement.

Today’s people don’t care about Chinadotcom — younger ones haven’t heard about it. But China.com did sound like a big deal when the company was selling the China Internet dream in 1990’s, and, before the Internet bubble burst, became the first Chinese Internet company to list in the U.S. and Hong Kong.

The company filed bankruptcy protection and was delisted from the NASDAQ in 2011. In the first half of this year it sold 325.9 million yuan worth of shares and New Horizon Capital IV, L.P.

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

What you get

Full access to all premium content and our full archives

Members'-only newsletters

Preferential access and discounts to all TechNode events

Direct access to the TechNode newsroom

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

Tracey Xiang

Tracey Xiang is Beijing, China-based tech writer. Reach her at traceyxiang@gmail.com