China-based online content recommendation platform Zuiyou has closed an $80m funding round led by consumer electronics manufacturer Xiaomi that included undisclosed existing investors, PEdaily has reported.
Zuiyou operates an online platform that enables users to share and recommend curated or viral media, photo, video and audio content, leave comments and forge relationships online.
The company has accumulated more than 1 million registered users since its June 2018 launch and currently has more than 100,000 daily active users. It targets users typically born after 1995.
Investment firm Puhua Capital provided an undisclosed amount of capital for the company in 2014, before it added $7m in series A funding from SIG Asia, part of technology and trading firm Susquehanna International Group, and Huayan Investment the following year according to 36Kr.
SIG Asia returned for Zuiyou’s $53m series B round, which also featured investment management firm CMC Capital Group and Jiyuan Capital, a branch of venture capital firm GGV Capital, in 2016. Its other investors include VC firm Lightspeed Venture Partners.
