China’s Kingsoft Raises $50 Million, Opens Palo Alto Office in Effort to Crack U.S. Market
Already a big player globally, China’s Kingsoft Office Software is raising $50 million in the hope of expanding its share of the U.S. market.
The company, which offers free Microsoft Office-compatible document-editing software for PCs and mobile operating systems, is also opening an office in Palo Alto to boost its marketing and partnerships with computer makers and developers. Investors in the new funding include Morningside Capital, GGV Capital and Shunwei China Internet Fund.
“Kingsoft Office has grown to become one of the most popular and highly rated office solutions for PCs and mobile devices,” said Ke Ge, CEO of Kingsoft Office. “But with an estimated two billion mobile devices to be shipped in 2014, we see an incredible opportunity to continue growing our consumer base as well as our global partnerships.”
The company claims 120 million users for its PC software, and 100 million registered users for its Android product. It is planning a significant update to its iOS app, as well.