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IDG Capital has taken a 13.33% stake in iQiyi Sports, a sports streaming platform jointly operated by Nasdaq-listed iQiyi and IDG Capital-backed Super Sports Media. iQiyi Sports will utilize the combined copyrighted resources of both parent company iQiyi and Super Sports Media. An online video platform backed by IDG Capital, iQiyi said it would provide traffic and advertising support for the new sports platform.
Aurora Mobile, a Shenzhen-based mobile big data solutions platform backed by IDG Capital, has gone public on Nasdaq. Aurora, which had 304% year-over-year revenue growth, provides a broad range of big data services, including financial risk analysis, precision marketing, commercial geography and variety of developer functions. IDG Capital led a Series A funding round in Aurora in 2014.
Bill Liu, Stanford graduate and former IBM research scientist, returned to China in 2012 and founded Royole Corporation, a Fremont, Calif.- and Shenzhen, China-based manufacturer of advanced flexible displays and sensors. Now valued at $5 billion, Royole recently closed a Series E funding round. The firm also recently opened a Shenzhen campus for mass production of fully flexible displays. IDG Capital led Royole's Series B funding round and participated in a Series C round.
Nasdaq-listed iQiyi, an online video platform based in Beijing, recently acquired Chinese game developer Chengdu Skymoons. Before the acquisition, iQiyi and Chengdu Skymoons jointly collaborated on several mobile games for iQiyi's streaming platform. In 2017, IDG Capital joined iQiyi's private funding round.
IDG Capital has joined an angel round in Kuaipeilian, a Beijing-based education startup that provides online piano practice guidance and support. The latest fund will support Kuaipeilian's R&D initiatives, curriculum development, as well as a variety of industry partnerships.
Co-working space operator Kr Space will open a 50,000-square-foot space in Causeway Bay, Hong Kong's core retail area. In May, Kr Space signed a 10-year contract to occupy an 83,000 square-feet space in Wan Chai, another prominent commercial district in Hong Kong. IDG Capital previously led two of Kr Space's funding rounds.
Electric vehicle startup Xpeng Motors recently completed an $857 million funding round and is now valued at $3.7 billion. Prior to a Series B+ round, Xpeng also raised another $348 million in a Series B round in which IDG Capital participated. Xpeng unveiled its first model this year at the Consumer Electronics Show in Las Vegas.
IDG Capital has joined a Series A+ funding round in Qeebike, an electronic bike startup based in Hangzhou, China. Qeebike will use the funding to enhance its R&D capabilities and also expand the number of charging stations in its network. Founded in 2016, the firm is now profitable. Qeebike owns and operates more than 10,000 electronic bikes in multiple cities throughout China. Earlier this year, IDG Capital co-led the company's Series A.
IDG Capital participated in Xiangwushuo's $65 million Series B+ funding round. The Beijing-based second-hand goods exchange platform currently has 20 million users on its app and 1 million daily active users. The company is now exploring how to use artificial intelligence and deep learning technologies to better identify goods and match them with users.
IDG Capital-backed Anker, a Shenzhen-based consumer electronics manufacturer, is expanding its product offerings. Best known for portable chargers, the company now also develops a wide range of products for the audio, portable security camera, projector, robotic vacuum cleaner and smart car markets. In addition to manufacturing and sales operations Shenzhen, Anker now has offices in Seattle, Tokyo, Dubai and Jakarta.
IDG Capital has co-led Meiwo's Series A funding round. Meiwo, a Hangzhou, China-based home decoration company, applies an Internet-powered approach to its business model, providing an emerging middle class, ages 27 to 35, with quality designs and a dedicated home decor service. Meiwo currently numbers 3,000 families in its customer base. On average, each Meiwo retail store completes 265 design projects per store per month.
Norway-based web browser Opera has gone public on Nasdaq, debuting at $12 per share. The company, which had a net income of $6.6 million in the first quarter of 2018, serves more than 300 million active monthly users. IDG Capital previously joined the pre-IPO private placement in Opera. Bitmain, an IDG-backed bitcoin mining company, works closely with Opera and also participated in the placement.
IDG Capital joined an $18 million Series A+ funding round in Tikin Media, a Beijing-based advertising company that uses projectors to showcase advertisements in elevators. The company will use the investment to expand market share, deploying 100,000 screens in elevators nationally over the coming year. Tikin now operates 30,000 elevator installations in 50 cities around the world, including many in buildings owned by Fortune 500 companies.
Shanghai-based group buying site Pinduoduo has debuted on Nasdaq with an initial valuation of $33 billion. The online bulk-purchasing platform currently serves 343.6 million active buyers, triple last year's buyer base. IDG Capital first invested in Pinduoduo in 2015 and also joined a private funding round this April.
Fortune's crypto-focused section, Fortune Ledger, had named seven executives from four IDG-backed companies-Coinbase, Ripple, Bitmain and Circle-to its annual "Ledger 40 Under 40" list. IDG Capital was an early investor in Coinbase and Ripple, led Circle's Series C and D funding rounds, and invested in Bitmain in 2017.