PapayaMobile Harvests $4M

Mobile social networking firm PapayaMobile, which has operations in Menlo Park and Beijing, said Wednesday that it has raised $4M in a Series A financing round. The round was led by DCM. According to PapayaMobile, it is developing an open-API, cross-platform mobile social networking service (SNS) focusing on social games and virtual goods. The firm currently supports the Android operating system, and was founded by Si Shen and Wenjie Qian. More information »