China’s Myspace - Koolanoo Group’s CEO O.D. Kobo

Asian internet investment firm Koolanoo Group announced that the company has invested USD 3 million in Social Networking Site 360Quan.com. When asked about the business model of the site, Koolanoo Group Global President and CEO O. D. Kobo said the company’s current focus is not commercial profitability, but rather the development of what could be the dating site for China’s young people.Koolanoo Group announced that the company will continue to invest in China’s internet industry and that the latest investment moves will be announced within two weeks. Koolanoo Group headquarters have recently been moved to Beijing, reflecting the company’s interest in the Chinese market.