Chinese E-publishing Platform Shanda Cloudary Takes in $110m Investment

In Global Trade Talk by Edward Nawotka

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By Edward Nawotka

Goldman Sachs and Singapore investment company Temasek┬áhave invested $110 million to purchase a stake in Shanda Cloudary, China’s leading digital publishing platform (which we’re reported on frequently in the past).

Bloomberg, which initially reported the news, estimates the value of the company at $600 million, down from the $800 million the company had been previously estimated prior to the firms aborted IPO earlier this year. To As of 2011, when the company first applied for an IPO in 2011 had only valued the company at $200 million.

All in all, this indicates massive growth for the firm over the past two years.

Of note: Shanda Cloudary, in addition to selling its own Bambook ereader, is also said to be developing an Android-powered smartwatch.

Source: Bloomberg, TechinAsia

About the Author

Edward Nawotka

A widely published critic and essayist, Edward Nawotka serves as a speaker, educator and consultant for institutions and businesses involved in the global publishing and content industries. He was also editor-in-chief of Publishing Perspectives since the launch of the publication in 2009 until January 2016.