NEWS & EVENTS

Successful Closing of Private Placement for PICA, a leading Mobile SNS provider in China

PICA (MMIM Technologies Inc.), a leading Mobile SNS  (Social Network Service)  provider in China, successfully closed a new round of $10 million USD  financing. Crosslink Capital led this round of investment, joined by existing institutional investors, IDGVC and BlueRun Ventures. This makes the company's total investment to close to $20M, one of the largest in China's mobile SNS area.

Founded in September 2004, by seasoned management team with decades of experience in telecom and information industry, PICA (Personalized Information and Communication Assistant) aimed to meet mass consumers' demand for social networking, community services and instant communications from mobile handset. The company's core product integrates innovative cross-network technologies with a variety of multimedia applications (i.e. Blog, Push-To-Talk, IM, etc.). With over 15 million user base, the company built one of the largest mobile user communities in the local market.

About Crosslink Capital
Crosslink Capital is a leading multi-stage technology venture capital and growth equity investment firm with over $1 billion in capital under management. Crosslink Capital was the first venture capital firm in the U.S. to integrate public and private technology investing.

About BlueRun Ventures
Launched in 1998, BlueRun Ventures is a leading early stage venture capital fund. Blue Run Ventures' proven approach is to invest globally as a single fund in best-of-breed technologies and teams with the drive and ability to build leading global companies. BlueRun Ventures is headquartered in Menlo Park, California, with offices in Beijing, Helsinki, Herzelia (Israel), Mumbai, Seoul, and Shanghai. For more information, visit www.brv.com.