The Beijing News, 5/24/17
Chengdu-based Xinchao Media Group, developer of O2O life services app Xinchao Xiaoqu and operator of an LED ad network, has completed RMB 1 bln in funding from four RMB-denominated publicly listed companies, according to an announcement from founder Zhang Xuxue. The funding will be used to install 200,000 television screens in elevators and engage in differentiated competition with rival Focus Media Holdings by capturing middle-class communities.
Xinchao Media and mobile advertising company Limei Technology also recently announced a marketing platform for community ad placements, called "Xiaoqu Tong." Using an API provided by Chinese internet and mobile services firm Tencent (0700.HK), Xinchao Media Group and Limei Technology will be able to mine social network traffic to reach homes in 5,000 communities. The partnership currently covers 6.37 mln residents in Beijing and Chongqing. Concentrating on middle-class communities and connecting online and offline marketing models will increase ad placement efficacy.
Editor's Note: For more information on this topic, please see "O2O Life Services App and LED Ad Network Operator Xinchao Lands Funding," MD 12/29/14 issue.