SNS Site 360Quan Receives $5 Million in Venture Funding

Chinese SNS site 360Quan recently acquired $5 million in venture funding for its second round of financing. The investment was from Koolanoo, an investment group focused on China’s new media. According to 360Quan, the proceeds will be used to improve its R&D capabilities and improve its customer experience. The company plans to launch several new services to enhance its brand recognition including the 360Qmail software.