Online ticketing service platform Maoyan receives USD 150M from Tencent for strategic financing
Founder: Zheng Zhihao
Founded in: 2007
Financing status: RMB 1 billion (USD 150 million) for strategic financing in 2017
Online ticketing service platform, Maoyan, received USD 150 million from Tencent for strategic financing on November 11 for business solidification.
Maoyan is an online ticketing service platform backed by online services group, Meituan-Dianping, in which Tencent holds a significant stake. In September of this year, Tencent was strengthening its position in ticketing services by backing the merger of Maoyan and Weying.
The combined company will use Maoyan as its foundation, and all Maoyan activities will be pooled into the new company, Maoyan Weying. Maoyan’s businesses include movie and show ticketing services, film investment, promotion, and other industry services. Similarly, Weying’s movie ticketing business shows business and other related services and resources will be included in the combined company.
According to Quest Mobile, by Q2 of 2017, Maoyan had about five million monthly active users, which is the most in China, seconded by Alibaba’s Taopiaopiao with four million. Additionally, Maoyan’s ticketing services cover over 4,000 cinemas that account for over 90% of box office sales in China as of 2015, according to the latest numbers available from Chinese media reports.
Backed by Tencent, with existing investors including Enlight Media, Meituan-Dianping, Weiying and so on, and this new financing round was led by Tencent for strategic financing with USD 150 million. Maoyan’s valuation exceeds USD three billion (RMB 20 billion). The capital will be used to solidify the combined company’s businesses, as well as prepare for an IPO.
Smart vending startup Gump Come receives USD 15M for Series B
Founder: Xuan Weiying
Financing status: RMB 100 million (USD 15 million) for Series B financing in 2017
Smart vending startup, Gump Come, received USD 15 million for Series B to digitalize its services by integrating cloud services.
Gump Come is a smart vending startup that conducts research, manufacturing, and operation of smart vending machines with artificial intelligence technology. Gump Come’s services are based on the interaction between humans and machines, as well as big data application and cameras, multi-touch and voice interaction technologies. In addition, Gump Come’s smart vending machines contain rich media properties, which means high extension capabilities for advertising and retail.
Gump Come’s smart vending machines have been placed in more than 20 cities in China with thousands of its machines. Meanwhile, there are 15 million transactions that have been completed on its platform.
This new financing round was led by Walden International, with Baidu and DT Capital Partners participating as investors. The company plans to use the funds to spread its smart vending machines to more cities, as well as integrate with cloud services to make the management process more efficient.
(Top photo from 699pic.com)