COLDSKY.CN – Yixia.com(一下科技), a mobile video tech company, has partnered with Terminus (特斯联), to invest one billion yuan for a MCN venture, the largest financing in the sector in China.
Terminus, backed up China Everbright Limited (光大控股), specializes in the development and commercialization of Artificial Intelligence (AI) as well as the Internet of Things (IoT) . It runs 8,400 smart projects in 80 cities, according to its website.
Terminus’ Smart Community Platform is mainly used by police and subdistrict administrative agency for decision-making over a broad range of issues such as population management, safety control, and events response.
The two sides will cooperate in original content development, promotion, supply chain integration, application in consumption scenarios, and retails.
China has seen a phenomenal boom in e-commerce business endorsed by livestreaming cyber stars during the pandemic this year. Many cities have also introduced incentives to attract online celebrities to help market products or services.
Data by iiMedia Research showed China has 28,000 MCNs, third-party service providers that create influencers and monetize online fans, and the market is estimated to reach 24.5 billion yuan.