The company will use the proceeds to improve its services, as well as expanding its business to more cities in China.
In 2010, it received RMB2 million in series A financing from Shanda Capital. In 2011, it received RMB10 million series B round from both CDH and Shanda.
China Media Capital is a private equity fund focusing on the media and entertainment sectors in China. It was established in 2010 by the chairman and president of the Shanghai Media Group, Li Ruigang.