WeChat-focused Social Marketing Platform 'New Rank' Wins Series A
36Kr.com, 10/14/15
Shanghai-based Kanbang Information Technology, operator of WeChat-focused social marketing performance ranking and advertisement trading platform New Rank, last month completed RMB 20.2 mln Series A funding from Nanjing-based SkyChee Capital, and now has a post-funding valuation of RMB 202 mln. This new financing will mainly be used to upgrade data services and collection capabilities, stabilize data products, and improve advertisement services.
New Rank tabulates WeChat public account article view and click counts and produces rankings based on this data. Advertisers and Wechat public account operators can also connect and reach agreements through New Rank in two ways. First, advertisers can upload content marketing articles along with their estimated marketing budget to New Rank, and WeChat public account operators can bid for the advertiser's contract and arrange related cooperation details. Second, advertisers can use New Rank to contact WeChat public account operators and negotiate partnerships. New Rank currently does not collect any fees for its services.
According to New Rank statistics, the company currently has approximately 60 government and enterprise customers using its data consulting services. Its advertiser marketplace platform has been online for one month and already has more than 500 registered advertisers and links to nearly 10,000 WeChat public accounts.
In addition to WeChat, New Rank also offers ranking lists and advertiser marketing services for other partners including Chinese microblogging platform Weibo (Nasdaq: WB), and mobile podcasting app Lizhi FM.
Currently, New Rank derives most of its income from data consulting and ad agency value-added services. The company says that it may expand to offer copyright protection services and use its resources to help people and companies get capital.
Keywords: Kanbang New Rank valuation mobile advertising funding wireless Series A WeChat SkyChee business model mobile IM
Sending
