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News Breaks
September 17, 2012
07:34 EDTCNETChinaNet Online acquires remaining interest in SouYi for $6.5M
ChinaNet Online announced that it will purchase the remaining 49% of the equity interest in Sou Yi Lian Mei Network Technology Co. Ltd. for approximately $6.5M in cash. SouYi provides online advertising and marketing services to small startup businesses. The company will fund the acquisition through cash on hand and operating cash flows. ChinaNet expects the transaction to close by the end of Q4. Upon closing, SouYi will become a wholly-owned subsidiary of the company.
News For CNET From The Last 14 Days
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October 14, 2014
13:04 EDTCNETChinaNet Online rallies after announcing launch of Zero Down Payment Loans
Earlier today, ChinaNet Online announced the launch of Zero Down Payment Loans. The product, targeted toward entrepreneurs, is being offered with Chinese financial services companies Haodai, which offers a credit product search engine, and Yooli China's leading crowdfunding services Web site. ChinaNet is taking a leading role in the Zero Down Payment Loans offering. The product integrates banks, P2P, and security companies with reputable enterprise franchising resources. The service will significantly lower the hurdles that many entrepreneurs face and help them to realize their business objectives. Shares of ChinaNet Online are up almost 49% to $2.03 in midday trading.

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