Beijing Weiying, a technology startup that runs Chinese messaging app WeChat’s movie ticket sales service, has raised $105 million in series B round of funding. Investors include WeChat maker Tencent, Wanda Group, Chinese film investment fund Wenzi Huasha, Shandong Luxin Investment Holdings Group, Shanghai Gangtai Group, and ECapital.
As reported by TechCrunch, Weiying’s app WePiao can be accessed through WeChat, as well as QQ, Tencent’s instant messaging platform. This allows users to buy tickets using payment information, they have already stored in their accounts. Besides purchasing tickets, WePiao users can also select their seats and order popcorn and drinks. The app currently covers 500 cities and 3,500 theaters in China.
The number of people in China who pay for movie tickets online grew 42.9% in 2014, while the number of bookings paid through mobile phones jumped to 109%.Category Investments Startups