Yunfeng Capital Leads $10M Series A+ Round In Du Yao


Du Yao, a book and movie review mobile app founded eight months ago by former chief executive of Shanda Literature Hou Xiaoqiang, has completed series A+ funding round securing over US$10 million led by Yunfeng Capital, according to a company announcement.

Existing investor SIG Asia Investments also participated.

The mobile app, whose name means "poison", was officially launched in May 2015, two months after SIG put US$1 million in the start-up.

The start-up aims to capitalize on the growth of China’s box office, which expanded 49% in 2015 to gross RMB44 billion (US$6.7 billion) in 2015.

China is now the second largest box office market in the world, taking around 17.8% of the global total, and is adding 15 screens every day.

Du Yao says it has registered users of over three million, and its platform publishes nearly 10,000 original reviews daily.

 
Caishen.Co - Primary Data for China Secondary Investment and Stock Markets

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