AAA Renren finds way to Mapbar

Renren finds way to Mapbar

Renren, a US-listed Chinese language social network, has led the $30m series C round for Beijing Mapbar Technology, a map service provider in China.

IDG, the corporate venturing unit of US-based publisher International Data Group, and undisclosed investors made up the rest of the C round consortium.

Investment bank China eCapital Corporation advised Mapbar in the transaction, which it said was the largest private financing to date in the digital map service industry in China.

IDG had previously invested in Mapbar’s $5m B round in September 2006, along with venture capital firm WI Harper, and the $10m A round the year before.

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