MySpace Pioneer Seeks More Success In ChinaMySpace Pioneer Seeks More Success In China

Brad Greenspan, the serial entrepreneur behind MySpace, said Wednesday he has partnered with 20 Chinese Internet companies and is working to raise $50 million for additional acquisitions, investments and transactions in China's Web market.

Greenspan said one of his China investments -- meta search firm BBMAO -- has been receiving 70,000 unique users a day. He worked with the founders of BBMAO in strategizing and launching the site more than nine months ago.

A spokeswoman for Greenspan's new firm, BroadWebAsia (BWA), said BWA recently opened an office in Shanghai. Greenspan is board chairman of BWA.

BWA's announcement noted that its portfolio of Chinese firms has been reporting more than 20 million unique visitors a month.

Greenspan said he hopes to replicate the success of the online social networking firm in Asia. "With less than 10 percent of the Chinese population online, there is vast potential for growth (by) partnering with early leaders and working with local management," Greenspan said in a statement.

After Greenspan sold his interest in MySpace to the News Corp., he founded Vidilife, an online social networking site featuring videos submitted by surfers.