360Quan

About 360Quan

360Quan was a social networking platform that emerged in the Chinese internet landscape in 2007, specifically targeting the teenage demographic. The company was co-founded by Chen Qi, who had a background in economics and journalism at China Central Television before venturing into the internet sector. He was joined by Dong Binghui, who served as the company's director.

The platform's core offering was a social space where users could create profiles, connect with friends, and engage with online games. A key feature that differentiated 360Quan was its 'circles' (Quan), which were designed to foster connections between users based on shared interests and hobbies, a departure from the model of connecting pre-existing acquaintances. This focus on creating new friendships resonated with its target audience, contributing to its rapid user acquisition.

Within its first year of operation, 360Quan reported significant traction, amassing a user base of over 22 million monthly active users. This growth attracted external investment, culminating in a second round of funding totaling USD 5 million in late 2007 from the Koolanoo Group, an investment firm focused on the Chinese internet market and led by O.D. Kobo. The influx of capital was earmarked for personnel expansion, technology enhancements, and the planned launch of new services, including a customized email system, 360Qmail. The company's business model was centered on advertising, attracting brands with products geared towards a youth audience.

Despite its initial success and ambitious plans, 360Quan appears to have ceased operations. The company is no longer a prominent player in the current Chinese social media market, which has since been dominated by other platforms. Information regarding the company and its operations does not extend beyond the late 2000s, indicating its eventual decline.