Source: 36 krypton
36 krypton was exclusively informed that on November 8, Xinchao Media Group received an investment from Baidu. It was reported that "the investment may be about 4 billion RMB". According to people close to the new management, the company will announce the news as early as this evening.
The new media was founded in Chengdu in 2007. Official information shows that as of October 2018, it has covered 100 cities, 650,000 elevators and 200 million community people every day.
As Internet online traffic dries up, breaking out offline has become the trend of the Internet industry, as can be seen from the new retail strategy of Internet giants. In July this year, Alibaba Group and its affiliates will invest about 15 billion yuan in Focus Media strategically, which will help Alibaba gain better offline attention. This should be the driving force of Baidu's new media.
As early as May this year, there was news that Baidu Business has focused on Baidu Polyscreen as a resource for customers in many business occasions. Obviously, Baidu is increasing its efforts to harvest new offline traffic, and it is possible that the offline advertising market will be linked up with Focus Media in the future.
From the current offline coverage, Focus Media is still the absolute hegemony - official information shows that Focus Elevator Media has now covered more than 200 cities, more than 2 million elevator terminals.
According to 36 krypton understanding, Xinchao Media completed the F-round financing before, the total amount of financing exceeded 6 billion yuan, when the official value of nearly 2 billion dollars. A close trading investor told 36 krypton that the total round of financing was around 4 billion yuan.
According to another insider of the new media, they have had some business cooperation with Baidu and other Internet companies before.
Baidu public relations did not comment on the financing information.
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