Renting Network Technology (Shanghai) Co., Ltd. (hereinafter referred to as Anjuke), a company dedicated to providing information on the sales and rental of new and second-hand houses, has secured another US$10M from Matrix Partners in its third round of VC financing. By far, Matrix Partners has input a total of US$22M into the company.
Liang Weiping, founder and CEO of Anjuke, said this will be his company's last round of financing and the company expects to meets the requirements for listing on NASDAQ in Q4 next year.
Different from some websites which heavily rely on ad revenues, Anjuke mainly derives its income from real estate sources. The brokers or property developers pay for each of the website users' click on or call for information on a second-hand house.
Anjuke has set up branch websites in ten major cities, including Shanghai, Beijing and Tianjin. The website has recorded over 10,000 paid subscribers in Beijing and Shanghai, and the number amounts to around 50,000 nationwide.
According to Liang, each broker pays an average of about RMB400 per month to Anjuke at present. Calculated on this basis, Anjuke can rake in a monthly sales revenue of about RMB20M, which is just enough to maintain positive cash flow.
(Translated by Jessie Tao)
