Rumor: Mobile Short Video App 'Miaopai' Completes USD 500 Mln Series E
IT Juzi, 11/19/16
Beijing-based mobile video software provider Xuan Yixia has reportedly secured more than USD 500 mln Series E funding from internet company Sina's (Nasdaq: SINA) microblogging subsidiary Weibo (Nasdaq: WB) and several large investment funds, reports Chinese media site IT Juzi. Weibo contributed more than USD 100 mln of the USD 500 mln round.
Xuan Yixia was established in August 2011 and operates products including Miaopai (which is integrated with Weibo), mobile video dubbing and sharing app Xiaokaxiu.com, and mobile live interactive video app Yi Zhibo.
Xuan Yixia completed USD 200 mln Series D funding from Sina in November 2015.
Editor's Note: Chinese news media Sohu Tech also reports that Xuan Yixia has landed a new round of funding worth several hundred million USD, of which Weibo contributed over USD 100 mln, citing a source familiar with the matter. Weibo's investor relations department has not responded to Marbridge's request for comment. In August this year, Miaopai denied rumors then circulating that it was preparing to announce a USD 500 mln funding round. For more information on Miaopai's response to the earlier rumor, please see "Mobile Short Video App 'Miaopai' Denies Rumor to Complete Series E Funding," MD 8/17/16 issue.
Keywords: wireless VC M&A Xiaokaxiu funding mobile video Sina Series E Xuan Yixia Miaopai Weibo interactive video WB Yi Zhibo mobile application
Sending
