Bullet-screen Video Site Acfun Secures USD 60 Mln A+ Funding
Sina Tech, 1/14/16
Guangzhou-based Danmu Network Technology, operator of bullet-screen video site Anime Comic Fun (Acfun), recently announced completion of USD 60 mln Series A+ funding from SoftBank China Venture Capital. Funds will be used for brand promotion and product improvements.
Danmu also announced that Mo Ran will become the company's CEO, and former CEO Sun Min will be appointed president. Mo Ran will have responsibility for Danmu's overall planning and strategy, and Sun Min will be responsible for commercialization of the business. Mo Ran joined Danmu at the end of last year and was responsible for closing the investment from SoftBank China. In response to recent claims that Acfun has been operating for some time without all necessary business licenses, Mo Ran said that the company has an internet content provider's (ICP) license and is in the process of applying for other credentials.
According to earlier reports, Danmu completed USD 50 mln Series A funding from online video platform operator Youku Tudou (NYSE: YOKU) in August 2015.
Editor's Note: For more information on this topic, please see"Youku Tudou Leads USD 50 Mln Investment in Bullet-screen Video Site Acfun," MD 8/06/15 issue.
Keywords: Mo Ran Internet funding online video Series A Sun Min Softbank China Venture Capital VC AcFun.com Danmu
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