You will be redirected back to your article in seconds

Sina Weibo Leads $500 Million Funding for Live Video Firm Yixia

Sina Weibo, one of China’s leading microblogging companies, is to lead a $500 million investment round for Yixia Tech, a company which operates Sina Weibo’s live video streaming operations.

Sina Weibo will invest $120 million while other investors include Shanghai Media Group, Everbright and Focus media. Sina Weibo had previously put up $190 million, while other existing investors include Sequoia Capital and Korean talent agency YG Group.

Yixia has two apps Miaopai and Xiaokaxiu which lets online users shoot and edit 10 second videos that can be uploaded to social media sites. Its live streaming service was launched in May this year and has been used for over 10 million live videos. That is understood to have helped Sina Weibo halt a recent decline in usage of its platforms.

The finance is expected to help Magilm expand in marketing and film distribution, and also help it diversify into TV and animation.

The company is headed by Bo Jin and Wang Wei. It is the fourth time that the startup has raised capital since 2013. Each funding round has increased in size, from an initial $1.4 million, to $8.7 million in 2014 and $14.5 million in 2015.

More Digital

  • Facebook Oculus Bullet Train

    Facebook Pulls VR First-Person Shooter Game From Demo at Conservative Political Conference

    Sina Weibo, one of China’s leading microblogging companies, is to lead a $500 million investment round for Yixia Tech, a company which operates Sina Weibo’s live video streaming operations. Sina Weibo will invest $120 million while other investors include Shanghai Media Group, Everbright and Focus media. Sina Weibo had previously put up $190 million, while […]

  • soundcloud-logo

    Twitter's Annual Report Reveals That Its $70 Million SoundCloud Investment Was a Bust

    Sina Weibo, one of China’s leading microblogging companies, is to lead a $500 million investment round for Yixia Tech, a company which operates Sina Weibo’s live video streaming operations. Sina Weibo will invest $120 million while other investors include Shanghai Media Group, Everbright and Focus media. Sina Weibo had previously put up $190 million, while […]

  • Independent Filmmaker Project

    Independent Filmmaker Project Will Expand Into Podcasts and Audio Storytelling

    Sina Weibo, one of China’s leading microblogging companies, is to lead a $500 million investment round for Yixia Tech, a company which operates Sina Weibo’s live video streaming operations. Sina Weibo will invest $120 million while other investors include Shanghai Media Group, Everbright and Focus media. Sina Weibo had previously put up $190 million, while […]

  • Ghostbusters World

    Google Launches ARCore, Teases 'Ghostbusters' Augmented Reality Game

    Sina Weibo, one of China’s leading microblogging companies, is to lead a $500 million investment round for Yixia Tech, a company which operates Sina Weibo’s live video streaming operations. Sina Weibo will invest $120 million while other investors include Shanghai Media Group, Everbright and Focus media. Sina Weibo had previously put up $190 million, while […]

  • Daniela Vega A Fantastic Woman

    Rakuten TV Picks Up Oscar Contender ‘A Fantastic Woman,’ Sets Day and Date U.K. Release

    Sina Weibo, one of China’s leading microblogging companies, is to lead a $500 million investment round for Yixia Tech, a company which operates Sina Weibo’s live video streaming operations. Sina Weibo will invest $120 million while other investors include Shanghai Media Group, Everbright and Focus media. Sina Weibo had previously put up $190 million, while […]

  • AUGGIE (Jacob Tremblay) and JACK WILL

    Lionsgate's 'Wonder' Tops DVD, Blu-ray Disc Sales and Rental Charts

    Sina Weibo, one of China’s leading microblogging companies, is to lead a $500 million investment round for Yixia Tech, a company which operates Sina Weibo’s live video streaming operations. Sina Weibo will invest $120 million while other investors include Shanghai Media Group, Everbright and Focus media. Sina Weibo had previously put up $190 million, while […]

  • Mark Warner

    Mark Warner: Social Media Giants Are 'One Significant Event Away' From Loss of Consumer Faith

    Sina Weibo, one of China’s leading microblogging companies, is to lead a $500 million investment round for Yixia Tech, a company which operates Sina Weibo’s live video streaming operations. Sina Weibo will invest $120 million while other investors include Shanghai Media Group, Everbright and Focus media. Sina Weibo had previously put up $190 million, while […]

More From Our Brands

Access exclusive content