NEW YORK--(BUSINESS WIRE)--Recently, Wepiao, a mobile ticketing platform founded by Weying (WECHAT Movie Tickets), announced the completion of Series C funding round, raising RMB 1.5 billion. The leading investor of this funding round was Beijing Cultural Assets Chinese Anci Films & Television Fund, other investors included CITICS Prosperity Fund, GGV Capital, Southern Capital, Gopher Asset of Noah Private Wealth Management, New Hope Group, etc.; Original shareholders Tencent, Wanda and INLY re-upped.
Positioned as a marketing and distribution platform of films, shows, sports and other pan-entertainment based on mobile social networks, Wepiao covered more than 4,500 cinemas and 90% of moviegoers, and entered more than 1,200 theaters, stadiums and exhibition pavilions within one year and a half, by continuously connecting scenes and contents.
In the film market, through IP development, investment & production, mobile marketing, Internet distribution and other methods, Wepiao has been deeply involved in the whole industry chain. With big data of entertainment consumers, Wepiao accurately understood users’ requirements, and produced films more popular in the market. In the aspect of shows and sports, Wepiao has also become an important “connector” between the industry and consumers. It has organized many mainstream Chinese music festivals, and exclusively launched or jointly promoted significant projects, such as itinerant exhibitions of some super IPs in China, and also cooperated profoundly with Window on Sports in the fields of marketing, ticketing and so on.
Today, the fund raised by Weying Capital under Weying has exceeded RMB 3 billion, and Weying-Noah Cultural Industry Fund cofounded by Weying and Noah Private Wealth Management is worth RMB 2 billion. Weying Capital will invest in projects in three pan-entertainment areas of films, shows & exhibitions, and sports, as well as make equity investment in the whole industry chain of original content, production, distribution, marketing, and venues, intensively exploring the cultural industry.