According to the report by Duojiao Entertainment Investment, Buyao Music, a musical short video company, has finished its 30 Million CNY A Round Finance by Sina, Mobai Capital, and Huoxing Culture. The company’s estimated market value has reached over 100 million.
This is the 3rd finance round that Buyao Music has done in 2017. The first, finished in January 2017, is a Pre-A Round by Fengrui Capital, Jinpu Investment, Oriental Fortune Capital, Sina Fund, in the value of 14 Million CNY. The company has received Strategic Investment by Taihe Music in the amount of tens of thousand CNY, April 2017.
The third round of financing will mainly focus on online marketing and Production of offline events, according to Zhou Luo, founder, and CEO of Buyao Music. Almost half of the finance will go into the marketing of online platform. The rest will be focused on the production of campus concerts, in order to expand their offline influence in major cities and school campuses.
Buyao Music, founded in March 2016, was originally focused on On-Campus Musical Short Video. After its early phase of collecting users by contents, it has entered a new phase of platform development and artist building. On the commercial side, Buyao Music also focuses on their service in advertising, as in its clients’ tailored advertisement.
（Translated by Yuming Xie）
Copyright © 2015 China Music Business News