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Li Ya, COO and CFO of Phoenix New Media, a subsidiary of Hong Kong-listed Phoenix Television. [Qiang Xiaoji/chinadaily.com.cn] |
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He said initial public offering (IPO) procedures for the website were underway, but he did not elaborate.
In 2008, the website announced it would seek a public offering in three years.
In 2009, Shanghai-based Morningside Ventures, venture capital firm Intel Capital, and publishing tycoon Bertelsmann injected a total of $25 million in the Internet media company.