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Chinese Browser Developer Gets Funding from Leading Venture Capital Firm


Wednesday, May 17, 2006; 03:13 AM

Charles River Ventures (CRV) announced that it has led an investment in Beijing-based Maxthon, the originators of the Maxthon Browser, which has been downloaded more than 55 million times since 2003. CRV joins early investors Morten Lund, a seed investor in Skype, and WI Harper in providing Maxthon with funds to further fuel the company's already rapid growth.

"We are excited to work with Charles River Ventures. The people at CRV have proven to us that they have the experience to help us build our company and take it to the next level," said Jeff Chen, CEO and founder, Maxthon. "Although we have been adding millions of new users every month on our own, and have been profitable since our inception, we are excited to give them a stake in our future and to partner with them to execute our common vision."

Safa Rashtchy, Managing Director and Senior Internet Analyst at Piper Jaffray who has been following Maxthon said, "In the new era of Internet, we believe application functionality will expand beyond the operating system into the desktops and the web; the point of personalization and delivery will become more important. We believe Maxthon and its organic growth is representative of this trend."

"Underlying this fundamental change is a new architecture required at the user entry point," said Bill Tai, general partner, Charles River Ventures. "Maxthon users have been adding nearly one million new instances a week for a reason - this team has the right vision for where the web will head, and has already implemented the first stage. We are excited to work with them to help fuel the next step and beyond."

Netanel Jacobsson, Founding Maxthon Partner & Senior Vice President, continued, "There is no other firm better suited to go on this adventure with us. The partners at Charles River Ventures possess a genuine passion for us, the space, and our collective potential. They have shown us a deep network and have an experience base that will prove crucial as we move forward. We could tell from our interaction that we would be partners - when we are together we 'light up' because we share the same vision and energy, and have fun working together."





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