China's DDMap Scores $40 Million In Funding

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China’s ‘life service’ provider DDMap has raised $40 million in new funding according to reports in Chinese tech media (via Tech In Asia). The financing round has been in the works for some time, but has now been completed, according to CEO Xu Longjiang. Founded in 2005, the Shanghai-based company had earlier been backed by smartphone maker HTC, Morningside Group and KTB Ventures. DDMap offers Chinese urbanites an extensive mix of local services on the Web and mobile phones, including news, business listings, mobile search, couponing, travel information, place check-ins and whatnot, currently in 40 cities and counting. Read next: An Australian billionaire is to build the Titanic II, an exact replica, in China.

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