Bertelsmann Asia Investments has led a series A funding round in Chinese movie commentary and content platform Dushe, with participation from existing investors Neowing Venture Capital and
Yonghua Capital, according to Chinese media reports.
The round reportedly values the movie content producer at RMB300 million (US$45 million). The investment value was not disclosed, but could be worth RMB75 million (US$11 million) assuming investors are taking a 25% stake.
Dushe, a Chinese phrase that means "vicious tongue", was founded last year by veteran media professionals.
The firm produces original and controversial commentary for movies and distributes them across over 20 media platforms, including the popular Wechat app where the firm has over two million followers.
"The Dushe team has unique understanding of the new digital media market and they are creative in their business models," says Dora Yi, investment director at BAI.
With the latest funding, Dushe says it plans to produce its own mobile app.
Source: China Tech News