According to the China Internet Network Information Center there are 162 million Internet users in China - a number that has grown by 140 million users in just the past 7 years. 7 million of those users already call Zhanzuo.com, China's largest social network, home.
The Times of London is reporting that Facebook has made an $85 million offer to purchase Zhanzuo.com. The Times reports that Zhanzuo.com CEO Jack Zhang and Facebook founder Mark Zuckerberg have engaged in talks but that no deal has been completed. Facebook is denying the report.
Facebook's English site already has 100,000 users in China, according to the newspaper. A purchase of Zhanzuo would give Facebook a dominant entry into one of the world's fastest growing Internet markets.
Facebook, however, is denying that they have any intention to acquire Zhanzuo.com -- or any Chinese site, for that matter. Facebook's Director of Communications Brandee Barker told TechCrunch that Facebook has not made any acquisition offers for the site. "No offer has been made and no acquisition in China is being considered by Facebook," said Barker. "And I don’t know who the spokeperson [sic] is that they are referring to in the story. The Times never contacted me or my team to confirm the accuracy of this story."
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This is a very interesting article. If the reports are right and Facebook might acquire the site for only $85 million for 162 million users that is a very good price. Just imagine how much you can make through advertising revenues. Although it would be interesting to see how many of those users are active.
If Facebook did purchase the site they could have another good site to test their new advertising platform.
Posted by: Steven Finch | November 19, 2007 11:59 AM@Steven: Apologies if I was unclear. Zhanzuo reportedly has 7 million users. But the Chinese Internet population is 162 million and growing very rapidly. Zhanzuo is supposedly the biggest social network in China, so it would give Facebook a major foothold in the country.
Doing business in China is tricky, though, as we have seen with Yahoo!'s recent troubles.
Posted by: Josh Catone | November 19, 2007 1:07 PMZhanzuo.com >> China's largest social network, home.
ABSOLUTELY NOT -- by NO means (thus far), unless this half-true half-false buzz makes them well-known.
Rgds,
Posted by: Aaron Cheung | November 20, 2007 8:50 AM/ac.
For example, 51.com claims to have 80 million users, and, QQ Space (ie., qzone.qq.com) 200 million users.
Apple-to-apple comparisons (ie., whatever number they claimed to have or reportedly having.)
Rgds,
Posted by: Aaron Cheung | November 20, 2007 8:59 AM/ac.
As far as user number concerned, zhanzuo.com is well behind 5460.net. Just checked a few best known high schools in China, and not a single one has anyone registered. I really doubt the accuracy of the number of 7 million.
Posted by: Leo Qiu | November 20, 2007 8:53 PM