Plaza Dancing Instruction Platform 'Sweet Bean Square Dance' Lands Series B
iYiou, 10/13/16
Beijing-based Mengzhichuang Digital Technology, operator of online and mobile plaza dancing video instruction platform Tangdou Guangchangwu (literally "Sweet Bean Square Dance"), raised USD 15 mln Series B funding in September led by Shunwei Capital, the venture capital firm co-founded by Chinese Android device maker Xiaomi's CEO Lei Jun, and with participation from Legend Capital, Engage Capital, and Redpoint Ventures, revealed Tangdou Cuangchangwu found Zhang Yuan.
Zhang said that the company is currently pursuing additional Series B investment and that the funding round will soon be completed. Funds will be used to continue growing the Tangdou Guangchangwu platform's user base and to increase user retention.
Tangdou Guangchangwu operates through online and mobile app platforms and mainly offers plaza dancing instructional video content for middle-aged female users. According to data from the platform, it currently has more than 2.5 mln daily active users and the average user spends 30 minutes per day viewing the platform. Tangdou Guangchangwu said that it expects to launch an e-commerce channel in 2017 and will gradually introduce healthcare, travel, and financial management products.
Mengzhichuang Digital Technology was established in February 2010. In addition to Tangdou Guangchangwu, the company also operates under the brand "CC Video" to offer cloud-based live and recorded video broadcasting, and cloud video acceleration solutions.
Editor's Note: For more information on this topic, please see "Plaza Dancing Video Instruction Platform 'Sweet Bean Square Dance' Wins Series A," MD 7/25/16 issue.
Keywords: Zhang Yuan VC M&A Engage Capital Internet funding Legend Capital Redpoint Ventures Series B Shunwei Tangdou Guangchangwu Mengzhichuang plaza dancing
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