Yunfeng leads round for China reviews site
Yunfeng Capital has led an extended Series A round of funding for Du Yao, a China-based book and movie reviews platform.
Existing investor SIG China also participated. Financial details were not disclosed but local media reported the size of the round as being tens of millions of dollars.
Du Yao, which also means also means "poisonous substance" in Chinese, was founded by Xiaoqiang Hou, former CEO of online literature company Shanda Cloudary, in April 2014. SIG China provided a Series A round in March of last year.
Users can post their comments on specific films or books on the platform. As of the end of last year, Du Yao had over three million registered users, generating more than 100 articles every day. Hao Yang, Hou's co-founder, said the company sees a huge market opportunity in generating user-based content given the rapid growth in the Chinese movie industry.
The new funding will go towards building a strong team capable of producing high-quality content in the areas of media, entertainment and animation.
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