HRAY Hurray! Holding CO., Ltd. (MM)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

(1)

This Schedule is filed by Granite Global Ventures (Q.P.) L.P., Granite Global Ventures L.P., Granite Global Ventures L.L.C., Granite Global Ventures III L.P., GGV III Entrepreneurs Fund L.P., Granite Global Ventures III L.L.C., Messrs. Scott B. Bonham, Joel D. Kellman, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Ray A. Rothrock, Anthony Sun, and Ms. Jenny Lee (collectively, the “Reporting Persons”). The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13D.

(2)

Consists of 234,450 American Depository Shares (ADS) representing 23,445,000 ordinary shares held by Granite Global Ventures (Q.P.) L.P., and 4,006 ADS representing 400,600 ordinary shares held by Granite Global Ventures L.P. Granite Global Ventures L.L.C. is the sole general partner of Granite Global Ventures (Q.P.) L.P. and Granite Global Ventures L.P. Messrs. Scott B. Bonham, Joel D. Kellman, Hany M. Nada, Thomas K. Ng, Anthony Sun and Ray Rothrock are members of the investment committee of Granite Global Ventures L.L.C. and share voting and dispositive power over all such shares held by Granite Global Ventures (Q.P.) L.P. and Granite Global Ventures L.P. These individuals disclaim beneficial ownership of the shares beneficially owned by the above entities except to the extent of their pecuniary interests therein.

(3)

This percentage is calculated based upon 21,933,437.4 ADS (representing 2,193,343,740 ordinary shares) of the Issuer outstanding as set forth in the Issuer’s Form 20-F, filed with the Securities and Exchange Commission on June 26, 2009.

(4)

In addition, Granite Global Ventures (Q.P.) L.P. holds 11 ordinary shares (representing a fractional 0.11 ADS) and Granite Global Ventures L.P. holds 4 ordinary shares (representing a fractional 0.04 ADS) for an aggregate total of 15 ordinary shares (representing a fractional 0.15 ADS).

(1)

This Schedule is filed by Granite Global Ventures (Q.P.) L.P., Granite Global Ventures L.P., Granite Global Ventures L.L.C., Granite Global Ventures III L.P., GGV III Entrepreneurs Fund L.P., Granite Global Ventures III L.L.C., Messrs. Scott B. Bonham, Joel D. Kellman, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Ray A. Rothrock, Anthony Sun, and Ms. Jenny Lee (collectively, the “Reporting Persons”). The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13D.

(2)

Consists of 234,450 American Depository Shares (ADS) representing 23,445,000 ordinary shares held by Granite Global Ventures (Q.P.) L.P., and 4,006 ADS representing 400,600 ordinary shares held by Granite Global Ventures L.P. Granite Global Ventures L.L.C. is the sole general partner of Granite Global Ventures (Q.P.) L.P. and Granite Global Ventures L.P. Messrs. Scott B. Bonham, Joel D. Kellman, Hany M. Nada, Thomas K. Ng, Anthony Sun and Ray Rothrock are members of the investment committee of Granite Global Ventures L.L.C. and share voting and dispositive power over all such shares held by Granite Global Ventures (Q.P.) L.P. and Granite Global Ventures L.P. These individuals disclaim beneficial ownership of the shares beneficially owned by the above entities except to the extent of their pecuniary interests therein.

(3)

This percentage is calculated based upon 21,933,437.4 ADS (representing 2,193,343,740 ordinary shares) of the Issuer outstanding as set forth in the Issuer’s Form 20-F, filed with the Securities and Exchange Commission on June 26, 2009.

(4)

In addition, Granite Global Ventures (Q.P.) L.P. holds 11 ordinary shares (representing a fractional 0.11 ADS) and Granite Global Ventures L.P. holds 4 ordinary shares (representing a fractional 0.04 ADS) for an aggregate total of 15 ordinary shares (representing a fractional 0.15 ADS).

(1)

This Schedule is filed by Granite Global Ventures (Q.P.) L.P., Granite Global Ventures L.P., Granite Global Ventures L.L.C., Granite Global Ventures III L.P., GGV III Entrepreneurs Fund L.P., Granite Global Ventures III L.L.C., Messrs. Scott B. Bonham, Joel D. Kellman, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Ray A. Rothrock, Anthony Sun, and Ms. Jenny Lee (collectively, the “Reporting Persons”). The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13D.

(2)

Consists of 234,450 American Depository Shares (ADS) representing 23,445,000 ordinary shares held by Granite Global Ventures (Q.P.) L.P., and 4,006 ADS representing 400,600 ordinary shares held by Granite Global Ventures L.P. Granite Global Ventures L.L.C. is the sole general partner of Granite Global Ventures (Q.P.) L.P. and Granite Global Ventures L.P. Messrs. Scott B. Bonham, Joel D. Kellman, Hany M. Nada, Thomas K. Ng, Anthony Sun and Ray Rothrock are members of the investment committee of Granite Global Ventures L.L.C. and share voting and dispositive power over all such shares held by Granite Global Ventures (Q.P.) L.P. and Granite Global Ventures L.P. These individuals disclaim beneficial ownership of the shares beneficially owned by the above entities except to the extent of their pecuniary interests therein.

(3)

This percentage is calculated based upon 21,933,437.4 ADS (representing 2,193,343,740 ordinary shares) of the Issuer outstanding as set forth in the Issuer’s Form 20-F, filed with the Securities and Exchange Commission on June 26, 2009.

(4)

In addition, Granite Global Ventures (Q.P.) L.P. holds 11 ordinary shares (representing a fractional 0.11 ADS) and Granite Global Ventures L.P. holds 4 ordinary shares (representing a fractional 0.04 ADS) for an aggregate total of 15 ordinary shares (representing a fractional 0.15 ADS).

(1)

This Schedule is filed by Granite Global Ventures (Q.P.) L.P., Granite Global Ventures L.P., Granite Global Ventures L.L.C., Granite Global Ventures III L.P., GGV III Entrepreneurs Fund L.P., Granite Global Ventures III L.L.C., Messrs. Scott B. Bonham, Joel D. Kellman, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Ray A. Rothrock, Anthony Sun, and Ms. Jenny Lee (collectively, the “Reporting Persons”). The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13D.

(2)

Consists of 29,705 ADS representing 2,970,500 ordinary shares held by GGV III Entrepreneurs Fund L.P., and 1,355,248 ADS representing 135,524,800 ordinary shares held by Granite Global Ventures III L.P. Granite Global Ventures III L.L.C. is the sole general partner of Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Messrs. Jixun Foo, Glenn Solomon, Scott B. Bonham, Joel D. Kellman, Hany M. Nada, Thomas K. Ng, and Ms. Jenny Lee are members of the investment committee of Granite Global Ventures III L.L.C. and share voting and dispositive power over all such shares held by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. These individuals disclaim beneficial ownership of the shares beneficially owned by the above entities except to the extent of their pecuniary interests therein.

(3)

This percentage is calculated based upon 21,933,437.4 ADS (representing 2,193,343,740 ordinary shares) of the Issuer outstanding as set forth in the Issuer’s Form 20-F, filed with the Securities and Exchange Commission on June 26, 2009.

(1)

This Schedule is filed by Granite Global Ventures (Q.P.) L.P., Granite Global Ventures L.P., Granite Global Ventures L.L.C., Granite Global Ventures III L.P., GGV III Entrepreneurs Fund L.P., Granite Global Ventures III L.L.C., Messrs. Scott B. Bonham, Joel D. Kellman, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Ray A. Rothrock, Anthony Sun, and Ms. Jenny Lee (collectively, the “Reporting Persons”). The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13D.

(2)

Consists of 29,705 ADS representing 2,970,500 ordinary shares held by GGV III Entrepreneurs Fund L.P., and 1,355,248 ADS representing 135,524,800 ordinary shares held by Granite Global Ventures III L.P. Granite Global Ventures III L.L.C. is the sole general partner of Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Messrs. Jixun Foo, Glenn Solomon, Scott B. Bonham, Joel D. Kellman, Hany M. Nada, Thomas K. Ng, and Ms. Jenny Lee are members of the investment committee of Granite Global Ventures III L.L.C. and share voting and dispositive power over all such shares held by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. These individuals disclaim beneficial ownership of the shares beneficially owned by the above entities except to the extent of their pecuniary interests therein.

(3)

This percentage is calculated based upon 21,933,437.4 ADS (representing 2,193,343,740 ordinary shares) of the Issuer outstanding as set forth in the Issuer’s Form 20-F, filed with the Securities and Exchange Commission on June 26, 2009.

(1)

This Schedule is filed by Granite Global Ventures (Q.P.) L.P., Granite Global Ventures L.P., Granite Global Ventures L.L.C., Granite Global Ventures III L.P., GGV III Entrepreneurs Fund L.P., Granite Global Ventures III L.L.C., Messrs. Scott B. Bonham, Joel D. Kellman, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Ray A. Rothrock, Anthony Sun, and Ms. Jenny Lee (collectively, the “Reporting Persons”). The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13D.

(2)

Consists of 29,705 ADS representing 2,970,500 ordinary shares held by GGV III Entrepreneurs Fund L.P., and 1,355,248 ADS representing 135,524,800 ordinary shares held by Granite Global Ventures III L.P. Granite Global Ventures III L.L.C. is the sole general partner of Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Messrs. Jixun Foo, Glenn Solomon, Scott B. Bonham, Joel D. Kellman, Hany M. Nada, Thomas K. Ng, and Ms. Jenny Lee are members of the investment committee of Granite Global Ventures III L.L.C. and share voting and dispositive power over all such shares held by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. These individuals disclaim beneficial ownership of the shares beneficially owned by the above entities except to the extent of their pecuniary interests therein.

(3)

This percentage is calculated based upon 21,933,437.4 ADS (representing 2,193,343,740 ordinary shares) of the Issuer outstanding as set forth in the Issuer’s Form 20-F, filed with the Securities and Exchange Commission on June 26, 2009.

(1)

This Schedule is filed by Granite Global Ventures (Q.P.) L.P., Granite Global Ventures L.P., Granite Global Ventures L.L.C., Granite Global Ventures III L.P., GGV III Entrepreneurs Fund L.P., Granite Global Ventures III L.L.C., Messrs. Scott B. Bonham, Joel D. Kellman, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Ray A. Rothrock, Anthony Sun, and Ms. Jenny Lee (collectively, the “Reporting Persons”). The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13D.

(2)

Consists of 234,450 American Depository Shares (ADS) representing 23,445,000 ordinary shares held by Granite Global Ventures (Q.P.) L.P., 4,006 ADS representing 400,600 ordinary shares held by Granite Global Ventures L.P., 29,705 ADS representing 2,970,500 ordinary shares held by GGV III Entrepreneurs Fund L.P., and 1,355,248 ADS representing 135,524,800 ordinary shares held by Granite Global Ventures III L.P. Granite Global Ventures L.L.C. is the sole general partner of Granite Global Ventures (Q.P.) L.P. and Granite Global Ventures L.P. Granite Global Ventures III L.L.C. is the sole general partner of Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Messrs. Scott B. Bonham, Joel D. Kellman, Hany M. Nada and Thomas K. Ng are members of the investment committees for both Granite Global Ventures L.L.C. and Granite Global Ventures III, L.L.C. and share voting and dispositive power over all such shares. These individuals disclaim beneficial ownership of the shares beneficially owned by the above entities except to the extent of their pecuniary interests therein.

(3)

This percentage is calculated based upon 21,933,437.4 ADS (representing 2,193,343,740 ordinary shares) of the Issuer outstanding as set forth in the Issuer’s Form 20-F, filed with the Securities and Exchange Commission on June 26, 2009.

(4)

In addition, Granite Global Ventures (Q.P.) L.P. holds 11 ordinary shares (representing a fractional 0.11 ADS) and Granite Global Ventures L.P. holds 4 ordinary shares (representing a fractional 0.04 ADS) for an aggregate total of 15 ordinary shares (representing a fractional 0.15 ADS).

(1)

This Schedule is filed by Granite Global Ventures (Q.P.) L.P., Granite Global Ventures L.P., Granite Global Ventures L.L.C., Granite Global Ventures III L.P., GGV III Entrepreneurs Fund L.P., Granite Global Ventures III L.L.C., Messrs. Scott B. Bonham, Joel D. Kellman, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Ray A. Rothrock, Anthony Sun, and Ms. Jenny Lee (collectively, the “Reporting Persons”). The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13D.

(2)

Consists of 234,450 American Depository Shares (ADS) representing 23,445,000 ordinary shares held by Granite Global Ventures (Q.P.) L.P., 4,006 ADS representing 400,600 ordinary shares held by Granite Global Ventures L.P., 29,705 ADS representing 2,970,500 ordinary shares held by GGV III Entrepreneurs Fund L.P., and 1,355,248 ADS representing 135,524,800 ordinary shares held by Granite Global Ventures III L.P. Granite Global Ventures L.L.C. is the sole general partner of Granite Global Ventures (Q.P.) L.P. and Granite Global Ventures L.P. Granite Global Ventures III L.L.C. is the sole general partner of Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Messrs. Scott B. Bonham, Joel D. Kellman, Hany M. Nada and Thomas K. Ng are members of the investment committees for both Granite Global Ventures L.L.C. and Granite Global Ventures III, L.L.C. and share voting and dispositive power over all such shares. These individuals disclaim beneficial ownership of the shares beneficially owned by the above entities except to the extent of their pecuniary interests therein.

(3)

This percentage is calculated based upon 21,933,437.4 ADS (representing 2,193,343,740 ordinary shares) of the Issuer outstanding as set forth in the Issuer’s Form 20-F, filed with the Securities and Exchange Commission on June 26, 2009.

(4)

In addition, Granite Global Ventures (Q.P.) L.P. holds 11 ordinary shares (representing a fractional 0.11 ADS) and Granite Global Ventures L.P. holds 4 ordinary shares (representing a fractional 0.04 ADS) for an aggregate total of 15 ordinary shares (representing a fractional 0.15 ADS).

(1)

This Schedule is filed by Granite Global Ventures (Q.P.) L.P., Granite Global Ventures L.P., Granite Global Ventures L.L.C., Granite Global Ventures III L.P., GGV III Entrepreneurs Fund L.P., Granite Global Ventures III L.L.C., Messrs. Scott B. Bonham, Joel D. Kellman, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Ray A. Rothrock, Anthony Sun, and Ms. Jenny Lee (collectively, the “Reporting Persons”). The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13D.

(2)

Consists of 234,450 American Depository Shares (ADS) representing 23,445,000 ordinary shares held by Granite Global Ventures (Q.P.) L.P., 4,006 ADS representing 400,600 ordinary shares held by Granite Global Ventures L.P., 29,705 ADS representing 2,970,500 ordinary shares held by GGV III Entrepreneurs Fund L.P., and 1,355,248 ADS representing 135,524,800 ordinary shares held by Granite Global Ventures III L.P. Granite Global Ventures L.L.C. is the sole general partner of Granite Global Ventures (Q.P.) L.P. and Granite Global Ventures L.P. Granite Global Ventures III L.L.C. is the sole general partner of Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Messrs. Scott B. Bonham, Joel D. Kellman, Hany M. Nada and Thomas K. Ng are members of the investment committees for both Granite Global Ventures L.L.C. and Granite Global Ventures III, L.L.C. and share voting and dispositive power over all such shares. These individuals disclaim beneficial ownership of the shares beneficially owned by the above entities except to the extent of their pecuniary interests therein.

(3)

This percentage is calculated based upon 21,933,437.4 ADS (representing 2,193,343,740 ordinary shares) of the Issuer outstanding as set forth in the Issuer’s Form 20-F, filed with the Securities and Exchange Commission on June 26, 2009.

(4)

In addition, Granite Global Ventures (Q.P.) L.P. holds 11 ordinary shares (representing a fractional 0.11 ADS) and Granite Global Ventures L.P. holds 4 ordinary shares (representing a fractional 0.04 ADS) for an aggregate total of 15 ordinary shares (representing a fractional 0.15 ADS).

(1)

This Schedule is filed by Granite Global Ventures (Q.P.) L.P., Granite Global Ventures L.P., Granite Global Ventures L.L.C., Granite Global Ventures III L.P., GGV III Entrepreneurs Fund L.P., Granite Global Ventures III L.L.C., Messrs. Scott B. Bonham, Joel D. Kellman, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Ray A. Rothrock, Anthony Sun, and Ms. Jenny Lee (collectively, the “Reporting Persons”). The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13D.

(2)

Consists of 234,450 American Depository Shares (ADS) representing 23,445,000 ordinary shares held by Granite Global Ventures (Q.P.) L.P., 4,006 ADS representing 400,600 ordinary shares held by Granite Global Ventures L.P., 29,705 ADS representing 2,970,500 ordinary shares held by GGV III Entrepreneurs Fund L.P., and 1,355,248 ADS representing 135,524,800 ordinary shares held by Granite Global Ventures III L.P. Granite Global Ventures L.L.C. is the sole general partner of Granite Global Ventures (Q.P.) L.P. and Granite Global Ventures L.P. Granite Global Ventures III L.L.C. is the sole general partner of Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Messrs. Scott B. Bonham, Joel D. Kellman, Hany M. Nada and Thomas K. Ng are members of the investment committees for both Granite Global Ventures L.L.C. and Granite Global Ventures III, L.L.C. and share voting and dispositive power over all such shares. These individuals disclaim beneficial ownership of the shares beneficially owned by the above entities except to the extent of their pecuniary interests therein.

(3)

This percentage is calculated based upon 21,933,437.4 ADS (representing 2,193,343,740 ordinary shares) of the Issuer outstanding as set forth in the Issuer’s Form 20-F, filed with the Securities and Exchange Commission on June 26, 2009.

(4)

In addition, Granite Global Ventures (Q.P.) L.P. holds 11 ordinary shares (representing a fractional 0.11 ADS) and Granite Global Ventures L.P. holds 4 ordinary shares (representing a fractional 0.04 ADS) for an aggregate total of 15 ordinary shares (representing a fractional 0.15 ADS).

(1)

This Schedule is filed by Granite Global Ventures (Q.P.) L.P., Granite Global Ventures L.P., Granite Global Ventures L.L.C., Granite Global Ventures III L.P., GGV III Entrepreneurs Fund L.P., Granite Global Ventures III L.L.C., Messrs. Scott B. Bonham, Joel D. Kellman, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Ray A. Rothrock, Anthony Sun, and Ms. Jenny Lee (collectively, the “Reporting Persons”). The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13D.

(2)

Consists of 29,705 ADS representing 2,970,500 ordinary shares held by GGV III Entrepreneurs Fund L.P., and 1,355,248 ADS representing 135,524,800 ordinary shares held by Granite Global Ventures III L.P. Granite Global Ventures III L.L.C. is the sole general partner of Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Messrs. Jixun Foo, Glenn Solomon, Scott B. Bonham, Joel D. Kellman, Hany M. Nada, Thomas K. Ng, and Ms. Jenny Lee are members of the investment committee of Granite Global Ventures III L.L.C. and share voting and dispositive power over all such shares held by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. These individuals disclaim beneficial ownership of the shares beneficially owned by the above entities except to the extent of their pecuniary interests therein.

(3)

This percentage is calculated based upon 21,933,437.4 ADS (representing 2,193,343,740 ordinary shares) of the Issuer outstanding as set forth in the Issuer’s Form 20-F, filed with the Securities and Exchange Commission on June 26, 2009.

(1)

This Schedule is filed by Granite Global Ventures (Q.P.) L.P., Granite Global Ventures L.P., Granite Global Ventures L.L.C., Granite Global Ventures III L.P., GGV III Entrepreneurs Fund L.P., Granite Global Ventures III L.L.C., Messrs. Scott B. Bonham, Joel D. Kellman, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Ray A. Rothrock, Anthony Sun, and Ms. Jenny Lee (collectively, the “Reporting Persons”). The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13D.

(2)

Consists of 29,705 ADS representing 2,970,500 ordinary shares held by GGV III Entrepreneurs Fund L.P., and 1,355,248 ADS representing 135,524,800 ordinary shares held by Granite Global Ventures III L.P. Granite Global Ventures III L.L.C. is the sole general partner of Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Messrs. Jixun Foo, Glenn Solomon, Scott B. Bonham, Joel D. Kellman, Hany M. Nada, Thomas K. Ng, and Ms. Jenny Lee are members of the investment committee of Granite Global Ventures III L.L.C. and share voting and dispositive power over all such shares held by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. These individuals disclaim beneficial ownership of the shares beneficially owned by the above entities except to the extent of their pecuniary interests therein.

(3)

This percentage is calculated based upon 21,933,437.4 ADS (representing 2,193,343,740 ordinary shares) of the Issuer outstanding as set forth in the Issuer’s Form 20-F, filed with the Securities and Exchange Commission on June 26, 2009.

(1)

This Schedule is filed by Granite Global Ventures (Q.P.) L.P., Granite Global Ventures L.P., Granite Global Ventures L.L.C., Granite Global Ventures III L.P., GGV III Entrepreneurs Fund L.P., Granite Global Ventures III L.L.C., Messrs. Scott B. Bonham, Joel D. Kellman, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Ray A. Rothrock, Anthony Sun, and Ms. Jenny Lee (collectively, the “Reporting Persons”). The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13D.

(2)

Consists of 29,705 ADS representing 2,970,500 ordinary shares held by GGV III Entrepreneurs Fund L.P., and 1,355,248 ADS representing 135,524,800 ordinary shares held by Granite Global Ventures III L.P. Granite Global Ventures III L.L.C. is the sole general partner of Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Messrs. Jixun Foo, Glenn Solomon, Scott B. Bonham, Joel D. Kellman, Hany M. Nada, Thomas K. Ng, and Ms. Jenny Lee are members of the investment committee of Granite Global Ventures III L.L.C. and share voting and dispositive power over all such shares held by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. These individuals disclaim beneficial ownership of the shares beneficially owned by the above entities except to the extent of their pecuniary interests therein.

(3)

This percentage is calculated based upon 21,933,437.4 ADS (representing 2,193,343,740 ordinary shares) of the Issuer outstanding as set forth in the Issuer’s Form 20-F, filed with the Securities and Exchange Commission on June 26, 2009.

(1)

This Schedule is filed by Granite Global Ventures (Q.P.) L.P., Granite Global Ventures L.P., Granite Global Ventures L.L.C., Granite Global Ventures III L.P., GGV III Entrepreneurs Fund L.P., Granite Global Ventures III L.L.C., Messrs. Scott B. Bonham, Joel D. Kellman, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Ray A. Rothrock, Anthony Sun, and Ms. Jenny Lee (collectively, the “Reporting Persons”). The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13D.

(2)

Consists of 234,450 American Depository Shares (ADS) representing 23,445,000 ordinary shares held by Granite Global Ventures (Q.P.) L.P., and 4,006 ADS representing 400,600 ordinary shares held by Granite Global Ventures L.P. Granite Global Ventures L.L.C. is the sole general partner of Granite Global Ventures (Q.P.) L.P. and Granite Global Ventures L.P. Messrs. Scott B. Bonham, Joel D. Kellman, Hany M. Nada, Thomas K. Ng, Anthony Sun and Ray Rothrock are members of the investment committee of Granite Global Ventures L.L.C. and share voting and dispositive power over the shares held by Granite Global Ventures (Q.P.) L.P. and Granite Global Ventures, L.P. These individuals disclaim beneficial ownership of the shares beneficially owned by the above entities except to the extent of their pecuniary interests therein.

(3)

This percentage is calculated based upon 21,933,437.4 ADS (representing 2,193,343,740 ordinary shares) of the Issuer outstanding as set forth in the Issuer’s Form 20-F, filed with the Securities and Exchange Commission on June 26, 2009.

(4)

In addition, Granite Global Ventures (Q.P.) L.P. holds 11 ordinary shares (representing a fractional 0.11 ADS) and Granite Global Ventures L.P. holds 4 ordinary shares (representing a fractional 0.04 ADS) for an aggregate total of 15 ordinary shares (representing a fractional 0.15 ADS).

(1)

This Schedule is filed by Granite Global Ventures (Q.P.) L.P., Granite Global Ventures L.P., Granite Global Ventures L.L.C., Granite Global Ventures III L.P., GGV III Entrepreneurs Fund L.P., Granite Global Ventures III L.L.C., Messrs. Scott B. Bonham, Joel D. Kellman, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Ray A. Rothrock, Anthony Sun, and Ms. Jenny Lee (collectively, the “Reporting Persons”). The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13D.

(2)

Consists of 234,450 American Depository Shares (ADS) representing 23,445,000 ordinary shares held by Granite Global Ventures (Q.P.) L.P., and 4,006 ADS representing 400,600 ordinary shares held by Granite Global Ventures L.P. Granite Global Ventures L.L.C. is the sole general partner of Granite Global Ventures (Q.P.) L.P. and Granite Global Ventures L.P. Messrs. Scott B. Bonham, Joel D. Kellman, Hany M. Nada, Thomas K. Ng, Anthony Sun and Ray Rothrock are members of the investment committee of Granite Global Ventures L.L.C. and share voting and dispositive power over the shares held by Granite Global Ventures (Q.P.) L.P. and Granite Global Ventures, L.P. These individuals disclaim beneficial ownership of the shares beneficially owned by the above entities except to the extent of their pecuniary interests therein.

(3)

This percentage is calculated based upon 21,933,437.4 ADS (representing 2,193,343,740 ordinary shares) of the Issuer outstanding as set forth in the Issuer’s Form 20-F, filed with the Securities and Exchange Commission on June 26, 2009.

(4)

In addition, Granite Global Ventures (Q.P.) L.P. holds 11 ordinary shares (representing a fractional 0.11 ADS) and Granite Global Ventures L.P. holds 4 ordinary shares (representing a fractional 0.04 ADS) for an aggregate total of 15 ordinary shares (representing a fractional 0.15 ADS).

Item 1.

Security and Issuer

(a)           This statement relates to the ADS each representing one hundred Ordinary Shares of the Issuer.

(b)           The address of the Issuer’s principal executive office is 15/F, Tower B, Gateway Plaza, No. 18 Xia Guang Li North Road, East Third Ring, Chaoyang District, Beijing 100027, People’s Republic of China.

Item 2.

Identity and Background

(a)           The name of the reporting persons are Granite Global Ventures L.P. (“GGV ”), Granite Global Ventures (Q.P.) L.P. (“GGV QP”), Granite Global Ventures III L.P. (“GGV III”), GGV III Entrepreneurs Fund L.P. (“GGV III Entrepreneurs”), Granite Global Ventures L.L.C., (“GGV LLC”), Granite Global Ventures III L.L.C. (“GGV III LLC”) (collectively, the “GGV Entities”), Messrs. Ray A. Rothrock, Anthony Sun, Scott B. Bonham, Joel D. Kellman, Juxon Foo, Glenn Solomon, Hany M. Nada, Thomas K. Ng and Ms. Jenny Lee (collectively with the GGV Entities, the “Reporting Persons”).  A copy of their agreement in writing to file this statement of behalf of each of them is attached hereto as Exhibit A.  GGV, GGV QP, GGV III and GGV III Entrepreneurs are limited partnerships organized under the laws of the State of Delaware.  GGV LLC and GGV III LLC are limited liability companies organized under the laws of the State of Delaware.  GGV LLC is the General Partner of GGV and GGV QP.  GGV III LLC is the General Partner of GGV III and GGV III Entrepreneurs.  Messrs. Ray A. Rothrock, Anthony Sun, Scott B. Bonham, Joel D. Kellman, Hany M. Nada, and Thomas K. Ng are members of the investment committee of GGV LLC.  Messrs. Scott B. Bonham, Joel D. Kellman, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon and Ms. Jenny Lee are members of the investment committee of GGV III LLC.

(b)           The business address for GGV, GGV QP, GGV III, GGV III Entrepreneurs, GGV LLC, GGV III LLC, and Messrs. Scott B. Bonham, Joel D. Kellman, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon and Ms. Jenny Lee is 2494 Sand Hill Road, Suite 100, Menlo Park, CA 94025.

                The business address for Messrs. Ray A. Rothrock and Anthony Sun is 3340 Hillview Ave., Palo Alto, CA 94304.

(c)           Messrs. Scott B. Bonham, Joel D. Kellman, Hany M. Nada, and Thomas K. Ng are managing members and investment committee members of GGV LLC.  Messrs. Scott B. Bonham, Joel D. Kellman, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon and Ms. Jenny Lee are managing members and investment committee members of GGV III LLC.  The principal business for each of the forgoing reporting persons is the venture capital investment business.

                The address for Messrs. Scott B. Bonham, Joel D. Kellman, Jiixun Foo, Glenn Solomon, Hany M. Nada, Thomas K. Ng, and Ms. Jenny Lee is 2494 Sand Hill Road, Suite 100, Menlo Park, CA 94025.

                Messrs. Ray A. Rothrock and Anthony Sun are managing members of Venrock Associates and investment committee members of GGV LLC.  The address for Messrs. Ray A. Rothrock and Anthony Sun is 3340 Hillview Ave., Palo Alto, CA 94304.  The principal business for each of the forgoing reporting persons is the venture capital investment business.

(d)           During the last five years, none of the Reporting Persons, to the knowledge of the Reporting Persons, has been convicted in any criminal proceeding (excluding traffic violations or similar misdemeanors).

(e)           During the last five years, none of the Reporting Persons, to the knowledge of the Reporting Persons, has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree, or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

(f)            GGV, GGV QP, GGV III and GGV III Entrepreneurs are limited partnerships organized under the laws of the State of Delaware.  GGV LLC and GGV III LLC are limited liability companies organized under the laws of the State of Delaware.  Messrs. Joel D. Kellman, Hany M. Nada, Thomas K. Ng, Anthony Sun, Ray A. Rothrock and Glenn Solomon are citizens of the United States of America.  Mr. Scott B. Bonham is a Canadian citizen.  Mr. Jixun Foo and Ms. Jenny Lee are citizens of Singapore.

Item 3.

Source and Amount of Funds or Other Considerations

Item 3 of the Original Schedule 13D is hereby amended and supplemented as follows:

124,492,960 Ordinary Shares, in the form of ADS were purchased by GGV QP for an aggregate consideration of $3,588,252 of its working capital.  2,127,220 Ordinary Shares, in the form of ADS were purchased by GGV for an aggregate consideration of $61,312 of its working capital.  127,911,000 Ordinary Shares, in the form of ADS were purchased by GGV III for an aggregate consideration of $4,889,877 of its working capital.  2,846,800 Ordinary Shares, in the form of ADS were purchased by GGV III Entrepreneurs for an aggregate consideration of $108,288 of its working capital.

Since the date of the Original Schedule 13D, 7,613,800 Ordinary Shares, in the form of ADS were purchased by GGV III for an aggregate consideration of $122,956 of its working capital, and 123,700 Ordinary Shares, in the form of ADS were purchased by GGV III Entrepreneurs for an aggregate consideration of $2,068 of its working capital.

On July 27, 2009, GGV QP and GGV sold an aggregate of 102,774,565 Ordinary Shares in the form of ADS (the “Disposed Shares”).

GGV QP, GGV, GGV III, and GGV III Entrepreneurs received the funds through contributions of capital from their respective limited partners.  No part of any purchase by the aforementioned entities was financed with borrowed funds.

Item 4.

Purpose of the Transaction

Item 4 of the Original Schedule 13D is hereby amended and supplemented as follows:

The Reporting Persons acquired the securities in open market transactions for investment purposes with the aim of increasing the value of their investments.

On July 27, 2009, GGV QP, GGV, GGV LLC, and Messrs. Scott B. Bonham, Joel D. Kellman, Hany M. Nada, Thomas K. Ng, Ray A. Rothrock and Anthony Sun (collectively, the “Sellers”) sold the Disposed Shares pursuant to the tender offer of the Ordinary Shares of the Issuer (the “Tender Offer”) as described in the Schedule TO-T filed with the Commission on June 16, 2009, as subsequently amended on July 15, 2009 and July 22, 2009, by Shanda Music Group Limited (“Shanda Music”) and Shanda Interactive Entertainment Limited.  Accordingly, the number of securities beneficially owned by the Sellers has decreased.

Subject to applicable legal requirements, one or more of the GGV Entities may purchase additional securities of the Issuer from time to time in open market or private transactions, depending on their evaluation of the Issuer’s business, prospects and financial condition, the market for the Issuer’s securities, other developments concerning the Issuer, the reaction of the Issuer to the GGV Entities’ ownership of the Issuer’s securities, other opportunities available to the GGV Entities, and general economic, money market and stock market conditions. In addition, depending upon the factors referred to above, the GGV Entities may dispose of all or a portion of their securities of the Issuer at any time. Each of the GGV Entities reserves the right to increase or decrease its holdings on such terms and at such times as each may decide.

Other than as described above in this Item 4, none of the GGV Entities have any plan or proposal relating to or that would result in: (a) the acquisition by any person of additional securities of the Issuer or the disposition of securities of the Issuer; (b) an extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries; (c) a sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries; (d) any change in the Board of Directors or management of the Issuer,

including any plans or proposals to change the number or terms of directors or to fill any existing vacancies on the Board of Directors of the Issuer; (e) any material change in the present capitalization or dividend policy of the Issuer; (f) any other material change in the Issuer’s business or corporate structure; (g) any changes in the Issuer’s charter, by-laws or instruments corresponding thereto or other actions which may impede the acquisition of control of the Issuer by any person; (h) a class of securities of the Issuer being delisted from a national securities exchange or ceasing to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; (i) a class of equity securities of the Issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Exchange Act; or (j) any action similar to those enumerated above.

Item 5.

Interest in Securities of the Issuer

Item 5 of the Original Schedule 13D is hereby amended and supplemented as follows:

The following information with respect to the ownership of the ADS of the Issuer by the persons filing this Statement is provided as of August 18, 2009:

Shares Held
Directly

Sole
Voting
Power

Shared
Voting
Power

Sole
Dispositive
Power

Shared
Dispositive
Power

Beneficial
Ownership

Percentage
of Class (2)

Granite Global Ventures (Q.P.) L.P.

234,450

0

238,456

0

238,456

238,456

1.09

%

Granite Global Ventures L.P.

4,006

0

238,456

0

238,456

238,456

1.09

%

Granite Global Ventures L.L.C.

0

0

238,456

0

238,456

238,456

1.09

%

Granite Global Ventures III L.P.

1,355,248

0

1,384,953

0

1,384,953

1,384,953

6.31

%

GGV III Entrepreneurs Fund L.P.

29,705

0

1,384,953

0

1,384,953

1,384,953

6.31

%

Granite Global Ventures III L.L.C.

0

0

1,384,953

0

1,384,953

1,384,953

6.31

%

Joel D. Kellman

0

0

1,623,409

0

1,623,409

1,623,409

7.40

%

Scott B. Bonham

0

0

1,623,409

0

1,623,409

1,623,409

7.40

%

Hany M. Nada

0

0

1,623,409

0

1,623,409

1,623,409

7.40

%

Thomas K. Ng

0

0

1,623,409

0

1,623,409

1,623,409

7.40

%

Jixun Foo

0

0

1,384,953

0

1,384,953

1,384,953

6.31

%

Glenn Solomon

0

0

1,384,953

0

1,384,953

1,384,953

6.31

%

Jenny Lee

0

0

1,384,953

0

1,384,953

1,384,953

6.31

%

Ray A. Rothrock

0

0

238,456

0

238,456

238,456

1.09

%

Anthony Sun

0

0

238,456

0

238,456

238,456

1.09

%

Security Type

GGV

GGV QP

Total Shares

Price per Share

ADS

17,266.00

1,010,479.00

1,027,745.00

$

4.00

Ordinary (1)

16

49

65

$

0.04

ADS accepted in tender

17, 266.16

1,010,479.49

1,027,745.65

$

4.00

Item 6.

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

The information provided and incorporated by reference in Items 3, 4 and 5 is hereby incorporated by reference.

Other than as described in this Schedule 13D, to the best of the Reporting Persons’ knowledge, there are no other contracts, arrangements, understandings or relationships (legal or otherwise) among the persons named in Item 2 and between such persons and any person with respect to any securities of the Issuer.

Item 7.

Material to be Filed as Exhibits

Exhibit A – Joint Filing Agreement

August 18, 2009

GRANITE GLOBAL VENTURES (Q.P.) L.P.

GRANITE GLOBAL VENTURES L.P.

BY:

GRANITE GLOBAL VENTURES L.L.C.

ITS:

GENERAL PARTNER

By:

/s/ Scott B. Bonham

Scott B. Bonham

Manager

August 18, 2009

GRANITE GLOBAL VENTURES III L.P.

GGV III ENTREPRENEURS FUND L.P.

BY:

GRANITE GLOBAL VENTURES L.L.C.

ITS:

GENERAL PARTNER

By:

/s/ Scott B. Bonham

Scott B. Bonham

Manager

August 18, 2009

GRANITE GLOBAL VENTURES L.L.C.

By:

/s/ Scott B. Bonham

Scott B. Bonham

Manager

August 18, 2009

GRANITE GLOBAL VENTURES III L.L.C.

By:

/s/ Scott B. Bonham

Scott B. Bonham

Manager

August 18, 2009

By:

/s/ Ray A. Rothrock

Ray A. Rothrock

August 18, 2009

By:

/s/ Anthony Sun

Anthony Sun

August 18, 2009

By:

/s/ Scott B. Bonham

Scott B. Bonham

August 18, 2009

By:

/s/ Joel D. Kellman

Joel D. Kellman

August 18, 2009

By:

/s/ Hany M. Nada

Hany M. Nada

August 18, 2009

By:

/s/ Thomas K. Ng

Thomas K. Ng

August 18, 2009

By:

/s/ Jixun Foo

Jixun Foo

August 18, 2009

By:

/s/ Glenn Solomon

Glenn Solomon

August 18, 2009

By:

/s/ Jenny Lee

Jenny Lee

August 18, 2009

GRANITE GLOBAL VENTURES (Q.P.) L.P.

GRANITE GLOBAL VENTURES L.P.

BY:

GRANITE GLOBAL VENTURES L.L.C.

ITS:

GENERAL PARTNER

By:

/s/ Scott B. Bonham