Yes, it's true that General Atlantic invested almost $50m in Oak Pacific Interactive, the Beijing group that runs mop.com. And that mop.com has at least 15m registered users.
Also true that MySpace co-founder, Brad Greenspan, has invested in more than 20 Chinese sites via BroadWebAsia.
Just because western investors are discovering opportunity doesn't mean there aren't a ton of other entrepeneurial, Web 2.0 ventures happening.
Thre best way to stay in touch is via Web2.0Review - a great blog about 2.0-style tech development in China. Tangos Chan and Luyi Chen are doing a great job.
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