Douban, a symbol of web 2.0 services in China, announced its $10 million series B financing today. The new round is led by Trustbridge Partners, and co-invested by its existing investor Ceyuan Ventures, who invested in $2 million in 2006.

Douban started from a social networking sites for book lovers, movie lovers and music lovers in 2005, when hype of web 2.0 just began. When people talked about web 2.0 in China, they will talk Douban. Since its inception, Douban is always one of my most favoriate Chinese websites, and I’m also an active user of Douban. Douban’s newest major product development is the release of Douban Radio, which is an personalized online music streaming service powered by a recommend engine to tailor the music just for you. (You can check our previous reports on Douban here)

Currently, Douban’s main revenue source is online advertising, some big brands are Douban’s advertisers already. For Douban Book, it also gain revenues from affiliation with Dangdang, Amazon Joyo and other book ecommerce sites.

Congratulations to Douban and Bo Yang. I strongly believe that Douban can lead to something bigger.