MobiMagic, a Beijing-based sci-tech company backed by China’s search engine giant Qihoo 360, announced that it received USD 100 million in investment, NetEase’s tech channel reported on Tuesday.
Qihoo 360 and FreesFund led the round of financing. At the beginning of 2015, MobiMagic received a joint investment of over USD 80 million from Qihoo 360 and Wang Liwei, a senior executive at Chinese games company Kunlun Tech. Qihoo 360 and Kunlun Tech are companies recently involved in an offer to buy Norway-based web browser Opera.
MobiMagic focuses on the development of mobile applications and their global promotion. One of its core products, 360 Security has more than 300 million users, most of whom are from mainstream Android markets including Europe, Japan, and India. This application, according to App Annie, ranks among the top five apps on Google Play in 79 countries.
MobiMagic also has a dozen other applications that are a hit in overseas markets. MobiMagic will cooperate with a number of enterprises including Cheetah Mobile, Apus, 3G.cn, and Solo Launcher which are active in overseas markets.
(Top photo from Baidu Images)