Campus SNS Site Tongxue Nabs $6M Investment

 Campus social networking site Tongxue.com has received investment of $6 million from venture capital firms and the Tano China Private Equity Fund I (TCPEFI), reports ChinaVenture. Tongxue.com expects to grow from its current 10 million users, 70% of whom are college students, to surpass 30 million registered users by the end of 2009, reports qq.com quoting company President Zhu Huaming. Tongxue.com has completed the $6 million in funding as well as some previous angel investments, and it expects to break even in 2010, said Zhu. Zhu said the $6 million investment can support the site for two to three years, and it plans to spend most of the funding on product innovation and brand promotion. Tongxue.com currently has twenty to thirty employees, said Zhu. The site was founded as FaceRen.com in May 2006 and changed its name to Tongxue.com in March 2008.