Dianping.com, China's Yelp, raises over $60 million to bolster mobile development

Dianping.com, a Chinese daily deals and local reviews site similar to Yelp, has raised over USD $60 million in new funding. The latest round of investment funds did not raise as much as the last ($100 million), nonetheless it proves that investors are seeing a lot of potential in Dianping.

According to Dianping’s second quarter report, the Chinese deals and reviews site had 48 million active monthly users, over 20 million reviews, and coverage of over 1.5 million local businesses in about 2,300 Chinese cities. On the mobile platform, the company claims that more than 33 million unique users use its app.

The Shanghai-based Dianping has managed to capture the attention of large investment firms like Sequoia Capital, Lightspeed Venture, and Trust Bridge Partners. According to Tech In Asia, Dianping intends to use its latest round of funds to bolster its mobile business and general business development.