On June 18, Yangyao Network Technology Co., Ltd. (Yangyao), a 3D virtual world operator, announced that it received US$23M VC investment. The investment will be injected at twice; the initial US$10M has already been allocated.

Established in September 2007, Yangyao is a subsidiary of Sunny Multimedia (HK) in Shanghai. Currently, it operates a 3D virtual community- temporarily named Mworld. The staff number of the company is about 70.

According to Bin Chen, CEO of Yangyao, the company's product is a 3D virtual community, which is different largely from that of Second Life. Mr. Chen emphasized that Mworld is a 3D-version SNS; the popular SNS will harvest scale profit on the basis of 3D. "We believe the users of SNS will become the game winners; the deep marketing or e-business will make SNS more profitable." Mr. Chen added.