FaceKoo

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City: Beijing

State: Beijing

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Country: China

Created and designed by FaceKoo, Inc., a private company based in Beijing, FaceKoo already enjoys more than 1.2 million members through a successful beta soft launch in March, 2008. FaceKoo, its name derived from the words “face” and “cool,” offers free membership and a brand new way of meeting friends via a face recognition system. Other applications that are attractive to young users are also integrated – forums, groups, casual games, voting, online pets and war games—all easily accessed through one cutting-edge, customizable interface. FaceKoo is creating revenue through online advertising, sale of digital goods, and through its latest e-commerce operations. Users are rewarded with Koo Dollars--a virtual currency tied to FaceKoo&s;s economic system--for contributing contents. Over 7 million Koo Dollars are earned and over 6 million Koo Dollars were purchased. However, online advertising is still FaceKoo&s;s leading revenue source. Since its niche focus on generation-Y users in urban cities in China, it attracts clients from entertainment industries and online gaming operators. The Chinese-language-only site targets the huge youth market in the world’s most populous country--with more than 338 million internet users. FaceKoo’s creators are now focusing on converting these young user base into repeat customers on its e-commerce platform.

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