SBCVC Leads $60M Funding Round In AcFun


AcFun, a Chinese video sharing platform, has completed a US$60 million funding round led by SB China Capital (SBCVC), according to an announcement posted on the company’s Weibo account.

Founded in 2007, AcFun received US$50 million series A funding from Youku Tudou Inc. in 2015, at a reportedly valuation of US$200 million.

AcFun focuses on video sharing with a function called "bullet screen", which allows users to text messages while watching video clips.

The company’s video library are mostly in animation, online gaming, music and sports, which are targeted at China’s young population.

Last November, Tencent Holdings Ltd. reportedly invested around RMB200 million (US$30 million) in a similar video sharing platform, bilibili.com, at a reported valuation of RMB1.5 billion (US$228 million).

Bilibili.com did not make any announcement of the financing, and China Money Network cannot verify the report.

 
China Expert network
Nina Xiang is the co-founder and managing editor overseeing editorial content and product development at CMN. Before founding CMN in 2011, Nina worked at BusinessWeek magazine in Beijing and Institutional Investor magazine in New York, writing about business and financial services. While in New York, she also served as part-time correspondent for Shanghai's financial television channel, China Business Network, as well as China Radio International, China's national English-language radio network.

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