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Chinese app store gets funds

Chinese app store Wandoujia has secured $120 million in a new round of funding led by SoftBank.

Other investors participated in the round include DCM and Innovation Works Development Fund.

Wandoujia CEO Junyu Wang said the new investment will be used to strengthen its position in China, with more than 200 app stores.

“This successful round of funding represents the market’s affirmation of Wandoujia’s competitiveness, and we will use these resources to accelerate our growth and more openly serve developers and the entire ecosystem by developing technology and innovation in mobile search,” said Wang.

Founded in 2009, Wandoujia boasts a total user-base of 300 million and around 30 million daily downloads.

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