Sina Leads USD 200 Mln Investment in Mobile Short Video App 'Miaopai'
Sina Tech, 11/24/15
Beijing-based Xuan Yixia Technology, operator of short video app Miaopai, has announced the completion of a USD 200 mln fourth round of funding led by Chinese internet company Sina (Nasdaq: SINA), with participation from Sequoia Capital, Korean entertainment company YG Entertainment, and others. Xuan Yixia will continue its development in the field of mobile short video, said company CEO Han Kun. More specifically, the company hopes to improve the user experience of its app Miaopai and mobile video dubbing app Xiaokaxiu, and also begin seeking strategic partnerships throughout the industry chain. Sina and Xuan Yixia will jointly create a USD 100 mln mobile video investment fund and partner in the short term to promote direct broadcast products, revealed Sina CEO Charles Chao.
Xuan Yixia, founded in August 2011, completed Series C funding in September 2014, led by Kleiner Perkins Caufield & Byers (KPCB), with participation from Sina and Redpoint Ventures.
Editor's Note: For more information on this topic, please see "Short Video App Miaopai Secures USD 50 Mln Series C," MD 9/25/14 issue.
Keywords: M&A VC Charles Chao funding wireless mobile video Series D Sequoia Capital Sina Xuan Yixia Miaopai YG Entertainment