Mobile Internet browser developer and one of the most promising mobile internet company in China UC Mobile completed the fourth round of financing by sealing new investments from Nokia Growth Partners, the venture capital firm under mobile phone giant Nokia Corporation (NYSE: NOK), and GGV Capital. UC Mobiles Got Strategic Investment from Nokia Growth Partner that will help them to spread them in global market as they have a strong market in China and has China’s biggest mobile application software R&D team. “It’s so glad that NGP become as UC’s strategic investor, which is another milestone of UC Mobile. We believe, NGP will enhance UC’s growth through its abundant experience in global mobile telecom industry. ” said by Mr. Yu Yongfu, CEO of UC Mobile, “Meanwhile, as the leading mobile internet enterprise holds core technology competency and independent knowledge right in China, UC has China’s biggest mobile application software R&D team, tens of patents.”
“UC is one of the most promising mobile internet company in China. NGP always invest on most outstanding and leading mobile service company with big potential, and UC perfectly matched our requirement. We believe, with its huge user base, superior manage team and continuous effort in innovation, UC will make significant growth in the 3G era ”, commented by Paul Asel, the partner of NGP, “We hope this cooperation can illustrate UC’s potential”
UC browser respects and protects all users' individual privacy right. Any personal information such as user name, mobile phone number, E-mail address and Cookie, which users leaves when registered or use UC browser, UC browser will never leak out to the third party, unless get the user's permission or some relative law compulsory regulations.
According to the agreement, UC will be continuously under independent lead of its original manager team, and NGP will not be involved in UC’s daily operation.
About UC Mobile
UC Mobile (Formerly Known as UCWEB) is the leading mobile internet software technology & application provider. On the basis of cutting-edge technology, UC is dedicated to help mobile users surf the internet with convenient, fast, and traffic effective experience. UC Mobile’s core product, the UC Browser, could run on main stream mobile platform, such as Symbian, Android, Java, Windows Mobile, MTK, iPhone, Ophone, Brew, and handsets from more than 100 brands & 2000 models, to help users get information, entertainment and ecommerce service from internet. Currently, UC deployed independent servers in North America and Asia Pacific to cover more than 30 countries and regions. By the end of March 2010, UC Browser recorded 300 million downloads globally, with more than 90 million users around the world. Latest statistics from Analysys International show that UC Mobile holds 61.3% of the mobile browser market. The number of mobile Internet users is expected to hit 400 million by 2011, representing a potentially huge mobile browser market.About Nokia Growth Partner
Nokia Growth Partners is the premier venture investor focused on growth stage companies in the mobile industry.With US$350 million under management for direct and fund of fund investments, Nokia Growth Partners is the preferred investor for companies, funds and people that are changing the global face of mobility, communications and the Internet. Nokia Growth Partners offers portfolio companies a global perspective on the mobile industry and the strategic guidance, network and platform to accelerate growth both domestically and internationally. Nokia Growth Partners also works closely with Nokia, its sole limited partner, to provide a superior return on investment while increasing the likelihood and magnitude of success in the companies in which it invests. Nokia Growth Partners has offices in Silicon Valley, Finland, China and India. See www.nokiagrowthpartners.com for more information.
About GGV Capital
GGV Capital (formerly Granite Global Ventures) is a venture capital firm focused on expansion stage investments in the US and Asia. The firm invests across a range of sectors in information technology, services and healthcare, as well as the consumer growth sector in China.GGV Capital, which was founded as Granite Global Ventures in 2000, is headquartered in Menlo Park with offices in Shanghai, Beijing and Singapore.
Since inception, GGV has raised $1 billion of investor commitments across three funds. Among GGV's most representative notable investments are Alibaba.com(HK Exchange: 1688.HK), AAC Acoustic, Athenahealth (NASDAQ: ATHN), hiSoft,QuinStreet Inc., SuccessFactors (NASDAQ: SFSF), Tudou, Vocera Communications and XenoPort (NASDAQ: XNPT)
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