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Content Producer 'New Studio Media' Wins RMB 147 Mln in New Funding

Sina Tech, 8/08/17

Beijing-based new media content producer and distributor New Studio Media (834630.NEEQ) recently announced completion of RMB 147 mln in new funding led by an investment fund managed by online game operator Perfect World (002624.SZ), with participation from new investors including Fuhui Capital and Yongtong Fund.

New Studio Media, established in August 2012, operates online community platforms for media creators, including platforms for new media online film and TV show distribution such as Vmovier.com, and also manages short-video content brand "Moli TV."

New Studio Media has previously completed multiple rounds of funding from investors including e-commerce conglomerate Alibaba Group (NYSE: BABA) and Sequoia Capital, and listed on China's National Equities Exchange and Quotations (NEEQ) OTC-style agency share transfer system in 2015. New Studio Media's online communities include users from 32 countries and regions and have more than 600,000 registered content creators who have generated more than 1.8 mln creative works.

Lian Jie, chairman and CEO of Perfect World's film subsidiary Perfect World Pictures, said that New Studio Media's excellent content production, content operation, and commercialization capabilities will help Perfect World Pictures to accelerate its development in the online film and television domain. Lian said that Perfect World Pictures will also provide IP incubation, artist development, and cinema distribution channel resource support to New Studio Media.

Editor's Note: According to New Studio Media's filing on this matter today (link in Chinese), Alibaba's venture capital arm Hangzhou Ali Venture Capital is the company's second largest shareholder with a 15.61% stake.

Keywords: M&A online video online short video Moli TV Perfect World Internet funding Lian Jie Vmovier 002624.SZ New Studio Media 834630.NEEQ Perfect World Pictures

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