Short videos are becoming a mainstay of Chinese social media, especially on Weibo.com. A new investment in the company behind two of the biggest platforms is set to grow the market further.
Weibo Corporation has completed a US$120 million investment in Yixia Tech, a Beijing-based developer behind short video mobile app Miaopai and Xiaokaxiu. The deal follows a US$200 million series D funding round Yixia competed in November 2015 led by Weibo, with participation from Sequoia Capital, South Korean entertainment firm YG Entertainment and others.
To date, Weibo has invested an aggregate of US$190 million in Yixia, while the two strengthened their existing partnership.
Miao Pai and Xiaokaxiu lets users shoot, edit, and share 10-second videos on Weibo and other social media platforms. It has registered users of 15 million and facilitates over one million video uploads daily, according to its official releases.
Launched in September 2013 with the help of Sina Weibo, Miaopai received venture funding in multiple rounds from Morningside Ventures, Redpoint Ventures, Kleiner Perkins Caufield & Byers (KPCB) China, Sina Corp. and StarVC.
Russia and China were barely mentioned, but they were the threats in everyone’s minds in…
KANDAHAR, Afghanistan: An overnight exchange of fire at one of the main Pakistan-Afghanistan border crossings…
New Delhi: Mass cancellations of IndiGo flights across several cities in India have left thousands…
Michigan neurosurgeon shares why ‘Japanese people live longer’: And it’s more than just diet ByAkanksha…
Baba Vanga 2026 Prediction: Another prediction by the world's most famous seer, Baba Vanga, is…
It should have been a night for Crystal Palace supporters to savour. About 1,500 officially…