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25 Jan '13, 12am

Taiwan’s food review site iPeen raises USD 5M from Japan’s NEC Corporation

Taiwan’s food review site iPeen raises USD 5M from Japan’s NEC Corporation

Taiwan’s food review site iPeen raises USD 5M from Japan’s NEC Corporation January 25, 2013 by Terence LEE Taiwan’s largest food review site, iPeen , announced in a press release on 24th January that it has raised USD 5M in investments from Japan’s NEC Corporation , a provider of IT services and products. The investment is one of the largest for a Taiwanese tech company in the past few years. It’s also among the most substantial in recent memory for any Asian consumer web company that’s not named Rocket Internet . In total, iPeen has received three rounds of investments. CyberAgent Ventures participated in the first two , and according to TechinAsia , the first round in 2011 was worth USD 1M at 20 percent equity, making for a valuation of USD 5M. That’s the equivalent of NEC Corporation’s investment — which means that iPeen is meeting investor’s expectations. Similar to se...

Full article: http://sgentrepreneurs.com/2013/01/25/taiwans-food-review...

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#Japan's NEC invests US$5 million in #Taiwan's online food review site iPeen

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