China’s e-commerce giant Alibaba has led a RMB600 million ($86.53 million) Series D round in JMGO, producer of smart theater projectors, CMN reported. Other investors who participated in the round include Junsan Capital, Sunz Fund, Stone Capital, GF Xinde Investment, Beijing D.Z Capital Co. Ltd among others. The company raised its Series C round of $90 million in 2016, led by Golden Brick Capital, Qianhai Zhongjin Group.
One of our very favorite old school style gifts for the holidays is the Muzen OTR Bluetooth Speaker/AM and FM Radio. Created by Chinese audio designer, Dejun Zeng, OTR stands for “On the Road” a nod to literary icon Jack Kerouac and his beat book by the same name, a title that has launched a thousand and one journeys since its publication in 1957.
CMC Capital, a Chinese investment firm focused on the media and culture sector, and Chinese private equity firm HG Capital, have led a RMB180 million (US$26 million) series B round in Newrank, a Shanghai-based social media content monitoring and ranking start-up.
Fortune Capital also participated in the round, according to a company announcement.
“In the past few years, a large number of content start-ups and new media companies have been established because content distribution is being decentralized, and original content are becoming really innovative,” said Li Ruigang, chairman at CMC Capital. “Newrank is the leading platform in the new media market with its knowledge in data and social media. We are optimistic about the future of Newrank, and will support the company’s developments in data consulting, marketing, e-commerce and copyright distribution.”
Founded in 2014, Newrank provides ranking services for content published on Chinese media platforms, including WeChat official accounts and Weibo accounts, where users have turned to for content consumption.
The company currently monitors over ten million WeChat official accounts. As of February 2017, it oversees the daily activities of over 350,000 high-quality accounts, covering 20 sectors and 30 cities, the company claims.
Newrank also partners with a number of media platforms including social media platform Weibo, personalized news app Toutiao, video platform iQiyi.com and Youku Tudou and distribute its rankings and data.
The company previously raised a RMB20 million (US$2 million) series A round from SkyChee Ventures in 2015. Last year, it raised an undisclosed amount of series A+ round from Zhen Fund, Banyan Capital and Weiying Capital.
Li is part of a phenomenon that is sweeping across large swathes of China: people are increasingly shifting their consumption of even routine everyday things to more premium categories. “Once people learn about good things, they can’t get over them easily,” says Xu Ke, 27, founder and CEO of Eqingdan.com (literally translated as “the list”), a Beijing-based start-up that offers shopping guides that end up showing the likes of Li more sophisticated offerings for things that they are looking to buy.