VC money trickling into Chinese social networking

You will already know that I am sceptical of the long-term appeal of social-networking sites. I suspect they're like conferences; much enthusiasm for the networking opportunities in the beginning which wanes as the regulars all become networked and they discover more efficient ways of staying in contact.

HOWEVER, I seem to be in the minority on this and noted with interest a piece on the China Web 2.0 Review about VC money directed at Chinese social networking sites. The amounts are pretty tiny - 16 sites and $93 million in funding over four years.

The blog helpfully translates the full list of deals:



Update: Underlining my point that I appear to be in a minority of one here, the new-ish and much livelier ABM blogger, Sara, has just posted on the way in which US media companies are crowding on to this band-wagon. Mind you, I most like the quote she gives from Scott Donaton at AdAge: “…too many of these sponsored viral-video (and fake-blog and social-networking) thingies really, really suck, and there's a reason for that: They are not the end result of an actual idea or strategy but are born of a desperate desire to do something, anything, in the new-media space".