Bussiness

Miaopai completes 500m US dollars financing round boosting company’s valuation up to 3 billion dollars

The top players are backed by venture capital money and Miaopai”s parent

company has announced a 200 million dollar USD series D funding in late 2015. It

has also raised multiple rounds of financing and as currently filed for an IPO on

Hong Kong stock exchange. The lead investors of Miaopai Company are Sina.com

and Weibo Corporation. “The newest funding round comes from Weibo” this is

the China’s answer to twitter and previous investors in a startup. Shanghai Media

group has also contributed some of the cash.

Future plans

Miaopai’s parent company supposes that new revenue streams will be user facing

offerings like membership subscriptions. The company is also planning to add a

social shopping platform to leverage the fashion influencers’ on this platform in

the first half of 2017. One year after pocketing 200 million US dollars to hit a

billion dollar valuation, said the CEO recently. Miaopai has seventy million users

and will definitely increase more according to Han Kun.

Miaopai is a video app and China-based company which is owned by Yixia

Technology. It lets users shoot, edit and share up to ten-second videos. This

service is launched with the help of Sina Weibo in 2013. Miaopai means filming

within a short period as CEO and former co-founder of Meaopai, Han Kun told

Netease portal that company will keep on producing good video content to stay

away from the same fate to apps that were a smashing success when they was

launched and later on failed. According to Miaopai reports over one million videos

are uploaded daily and have 500 million daily video viewers. The company claims

that daily upload have increased from one million to 1.5 million in the same time

period.

Source: www.mattermark.com

Miaopai completes 500m US dollars financing round boosting company’s valuation up to 3 billion dollars
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

To Top