Live streaming video is becoming an important part of social networking. China’s Huajiao Live Video app has attracted attention from investors, having recently closed its Series A funding round, in which it gathered $45m.
Huajiao live video app has closed its Series A funding round
Initially part of a startup incubator run by Qihoo 360, it’s the seventh most popular live streaming app in China, according to independent research, but has seen considerable growth over the past six months. During this time, a 200% year-on-year rise in use was recorded.
Qihoo 360 participated in the seed funding round, but it was led by Zhongshoujian, which is described as a “state-owned entity whose identity cannot be verified” by ChinaMoneyNetwork.com.
Visit Huajiao’s website here for more information on the app and its services.