China Huace invests $64m in VC-backed Xiao Hong Chun

Shenzhen-listed China Huace said in a filing that it made the investment through its offshore entity - China Film and Television media International.

Founded in 2015, Xiao Hong Chun is a social networking and business-to-consumer (B2C) e-commerce platform that targets female consumers aged 15 to 30. Registered can users post videos of their recommended beauty and fashion products to the platform, while company has so-called key opinion leaders who host online TV shows and give feedback on specific products. The start-up claims to ahve attracted more than 2,000 users since inception.

AVCJ Research's records show that Xiao Hong Chun has previously raised three rounds of funding, including a Series A round from Beijing Shuanghu Investment and BlueRun Ventures, and a Series B round from LB Investment and Lightspeed Capital China. GGV Capital invested in the company earlier this year.

China Huace will leverage its existing resources to help Xiao Hong Chun develop its online media content, including live broadcasts, and short-form and long-form videos, with a view to boosting its online traffic.

Founded in 2005, China Huace focuses on investment, production, and distribution of films and TV dramas. The media group generated more than RMB2.66 billion ($400 million) in revenue last year, up from RMB1.92 billion in 2014. Its net profit increased from RMB305 million to RMB369 million over the same period.

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• Topics
• Greater China
• Technology
• Media
• Consumer
• Expansion
• China
• TMT
• GGV Capital
• Lightspeed Venture Partners
• BlueRun Ventures
• Venture