Chinese WiFi solution provider, WiWide has secured USD 49 million in Series C funding led by Tencent and Dianping. Last year, the startup raised series B round from Xiaomi and its series A came from Greenwoods Investment in 2012.
WiWide, founded in 2007 by serial entrepreneur Jerry Zhang, is used by over 500 domestic and international franchises from coffee bars (Starbucks, Costa Coffee) and restaurants (Häagen-Dazs, Burger King, South Beauty), to movie theaters, shops, conference centers.
Jerry Zhang, WiWide CEO and founder, disclosed in an exclusive interview with TechNode that the company is making profits, mainly from premium brand ad clients, like BMW, Benz, Jaguar, Nokia, and Lenovo. It has been working with Tencent since March this year on every detail of this program, from product form definition to terminal and access functions.
WiWide runs over 30,000 hotspots. Also, it offers end-to-end solution means routers and other hardware, network architecture, professional installation, and a dashboard application for businesses to keep track of connected customers. The startup now has over 300 employees and operates three other branch offices in Shanghai, Shenzhen and Chengdu.
In February this year, Tencent bought a 20 percent stake in Dianping, a Yelp-style China’s local listings portal that also sells daily deals. Apart from this, Chinese company Renren Kuaidi, a crowdsourced delivery system, raised USD 15 million led by Tencent and Banyan Fund.Category Business Investments