Cheetah Mobile’s live video streaming platform Live.me receives USD 60 million in financing
Founded in: 2016
Financing status: RMB 413 million (USD 60 million) in financing in 2017
Live.me is a live video streaming platform and a Cheetah Mobile subsidiary. Users can record live videos with their mobile phones via the Live.me app to share moments of their daily lives and interact with other users. In addition, users can purchase digital “gifts” such as emojis for their favorite live video creators.
Live.me first launched in the United States in 2016, and topped the United States’ GooglePlay social networking bestseller list since August 2016, and was also ranked in the top five of the Apple App store’s social networking bestseller list in the U.S. The platform has so far covered more than 50 countries and regions in the world, and has been downloaded more than 15 million times.
This funding came from a group of investors including Matrix Partners China, Evolution Media China, Gobi Partners, IDG Capital, Welight Capital, and Cheetah Mobile. The capital will be used to recruit more talents to improve the diversity of content on the platform.
Online car dealer platform Xingyuanauto receives USD 43 million in angel round
Founder: Shao Jingning
Founded in: 2016
Financing status: RMB 300 million (USD 43 million) angel financing round in 2017
Xingyuanauto is an online car dealer platform that aims to combine the traditional car dealership industry with the internet to form a new car sales and marketing system.
Founded in 2016 in Beijing, Xingyuanauto’s founding team was formed by former CEO of BitAuto Shao Jingning and senior vice president Huai Yang.
Xingyuanauto provides car manufacturers and car dealers with wholesale car services and online marketing services based on its online platform. Its business covers sales transactions of new and used cars, loans and installments for car purchases, providing automobile insurance services and other automotive related services.
This angel financing round was led by ZhongJun Fund, and Xingyuanauto plans to use this fund to improve efficiency of its services, and invest more on marketing to reach collaborations with new car companies and dealers.
(Top photo from Baidu Image)