Bangalore: Beijing Weiying Technology, a Chinese online movie ticket booking platform raises $105 million in its series B round of funding from WeChat owner Tencent Holdings Limited, China’s largest movie theater operator and commercial property developer Dalian Wanda Group and many others.
Incorporated in 2014 and funded by Tencent, Biscon Capital and China Culture Industry Investment Fund, Beijing Weiying operates a web portal Weipiao.com, which allows users to book movie tickets using payment information. It also has an application, which can access through WeChat and QQ platform, Tencent’s instant messaging platform.
The firm collaborates with more than 2000 movie theatres in China, including Wanda’s cinema chains. Beijing Weiying is planning to expand its services to other entertainment sectors including online movie ticket booking and sport events.
Founded in 1998 by Pony Ma, Li Qing Zeng, Chen Ye Xu, Yi Dan Chen and Zhidong Zhang, Tencent is a Chinese internet service portal offering value added internet, telecom, mobile and online advertising services. The firm rose a funding from investors, namely Naspers, IDG Capital Partners and PCCW.
Tencent had earlier backed medical technology company Scanadu, Cyanogen, Satellogic, M4JAM and many others.