Baobao, a digital video streaming social media platform, secured $15 million (RMB 100 million) in a series B+ round joined in by Meridian Capital China, Tencent Holdings Ltd, GGV Capital and Shunwei Capital.
Baobao claims to have 400,000 daily active users, mostly under 25 years old, of its mobile app that allows them to conduct or watch live video streaming, a hot mobile app trend in China. Through the app users can interact with each other via commenting, gift offering and private chats. Launched in 2014, Baobao raised several million USdollar in its series A round in 2015. Details of the startup’s series B round is unknown.