Wigix, Inc. has acquired a Shanghai-based Mag2U, to enhance DDKU’s growing internet presence as well as provide a multi-channel marketing network to acquire, retain and service customers in China. DDKU, a web-based community driven marketplace and wholly owned subsidiary of Wigix, will merge operations with Mag2U.
Mag2U, a privately held company, is the largest magazine subscription processor in China currently with operations in Shanghai and Hangzhou.
Aprox. Value: Undisclosed
ACQ Web: http://www.wigix.com
Location: Oakland, CA
Region: North America
Description: A catalog of all products, a listing of who owns them and what they are worth by leveraging an innovative, open, and highly scalable community-driven process. Wigix’s catalog has over three million unique items and is structured to allow buyers and sellers to easily find specific products and avoid the common problem of multiple listings that exist on other sites. Wigax is funded by venture capital firm, Draper Fisher Jurvetson.
Contact 1: James Chong, CEO, President and Chairman
Contact 2: Bob Lee, Founder, CTO & Vice President of Engineering
Contact 3: Albert Loh, Founder, CFO & Vice President of Operations
Contact 4: Tim Draper, Founder and Managing Director, Draper Fisher Jurvetson
Location: China, Shanghai
Description: Process outsourcing company, and the largest magazine subscription processor in China currently with operations in Shanghai and Hangzhou.
Category: Outsourcing, Publishing Service Provider
Link: Press Release
FDN Database Reference: F231109-378