China has a rapidly growing population of young internet users. It is estimated that there are more than 250 million internet users in China compared to around 220 million in the US.

Blogs are the most popular among the Chinese users. According to Sina.com China’s most popular blogger, the actress Xu Jinglei, has attracted more than 174 million visitors over the last few years.

This offers a tremendous opportunity for online ventures in China. I am sure we'll see a lot of web-based services coming up in China in the next few months.