Audiobook Platform Lanren Tingshu Wins RMB 200 Mln Series C

Lieyunwang, 6/25/18

Shenzhen-based Lanren Online Technology, operator online and mobile audiobook platform Lanren Tingshu (literally "Lazy People Audiobooks"), has announced the completion of RMB 200 mln in Series C funding jointly led by Time Publishing and Media (600551.SH), Shenzhen Qianhai Tianhe Culture Industry Fund Management and Fuhui Capital.

Since its launch in 2012, Lanren Tingshu has been focused on the audiobook field, with content across a wide variety of genres and media types, including traditional publications, original literature, children's books, and radio. Currently the company boasts more than 1 mln hours of listening content.

Lanren Tingshu's platform has 320 mln registered users, with monthly and daily active users reaching as high as 40 mln and 15 mln, respectively, and each user spending more than 120 minutes online each day. Since 2016, the company has offered paid premium audiotexts which helped lead the company to generate over RMB 100 mln in revenue and achieve profitability in 2017.

Keywords: VC M&A online literature mobile literature wireless Lanren Online Lanren Tingshu Internet funding Series C Time Publishing and Media audiobook Fuhui Capital Tianhe Culture Industry Fund

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