Yixia Technology announces US$500 million in Series E round of funding from a group of investors including Sina Weibo, which owns the leading Twitter-like service in China, and Wepiao, the Tencent-backed e-ticketing and film distribution company. Financial terms were not disclosed.
The product portfolio of Yixia Technology includes short video sharing app Miaopai, live video broadcasting app Yizhibo, lip-sync app Xiaokaxiu, and a couple of video-related tools. Its strategic investor Sina Weibo has integrated the live video streaming service, Yizhibo, and has been promoting the other two mobile services to Weibo users.
Here’s an article I wrote a couple of months ago about Yixia Technology and China’s mobile video clip sharing market based on an interview with Liu Xinzheng, senior vice president of Yixia Technology.