The 360Quan site is China's third largest social networking site and has experienced phenomenal growth this year. The Israel-based Koolanoo Group owns 360Quan. It also owns Koolanoo.com - the first social network for young Jewish professionals. The Koolanoo Group maintains offices in Tel Aviv and Beijing. 360Quan was started in 2003.
Koolanoo Group put $3 million into 360Quan earlier this year. The $5 million, announced on December 27, is a second round of funding.
According to Entertainment Asia, O.D. Kobo, chairman and CEO of Koolanoo Group, has announced plans to move the company's global headquarters to Beijing and expand its China team from 40 to 100.
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It has been rumored that koolanoo group ( owns 360Quan ) company is listing late summer 2008 on the HKSE.
360quan is a totally fail case in SNS websites in China. The management team is very superficial of SNS, thus the ones who were interviewed by GM CQ took his as a fool. The traffic of 360quan was bought from Union and the title of top3 of Chinese SNS was bought from Iresearch. If you had 3 million you could do much better than them.