Internet celebrity Green Bean Frog receives a $1.5 million investment from Sequoia Capital

by kristy on 2008-09-26 10:22:51

The image operation company of "Internet celebrity" Green Bean Frog, Shanghai Lanxue Digital Technology Co., Ltd., recently received a venture capital investment amounting to 1.5 million US dollars. Guo Fang, the general manager of the company, revealed in an interview with *21st Century Business Herald* yesterday that this is the first venture capital funding Green Bean Frog has received, and it will be used to enrich product content and promote the brand.

It is reported that the expansion of the Green Bean Frog image in digital content, cultural products, and brand licensing has already brought nearly one million yuan in pure profit to the company. In the next two to three years, the company will also receive the second phase of capital injection from this investment. Guo Fang disclosed that the second phase of capital injection will not be less than 5 million US dollars.