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James Breyer, Co-Chairman of IDG Capital, will step down from the Harvard Corp. on June 30 after his six-year term. During his tenure there, Breyer served on the finance committee and on the governing boards' joint committees on inspection, alumni affairs and development. Breyer is also a member of the board of dean's advisers at Harvard Business School. William Lee, a Corporation senior fellow, said Harvard has always benefited from Breyer's“lively intellect, his global outlook, his keen understanding of technology and his constant eye on the future." In addition to his position at IDG Capital, Breyer, who was an early investor in Facebook, is also Chairman of Breyer Capital in Menlo Park, California.
Sanjieke, a China-based career training platform targeting IT professionals, has raised $19 million in a Series B round. Sanjieke provides systematic courses to Internet industry practitioners and also works with leading Chinese Internet companies to build core skill evaluation standards and assessment tools. The Beijing-based start-up said it will use the latest investment to expand its business operations. IDG Capital led Sanjieke's series A fund in 2018. The company's valuation currently exceeds $145 million.
Infront Sports & Media, an international sports marketing agency based in Switzerland, has launched iX.co, a new digital venture connecting brands and sports rights-holders directly to sports fans. iX.co will merge Infront's in-house digital team with OMNIGON, a New York-based digital services company acquired by Infront earlier this year. With a 250-member staff, the new venture will operate in New York, London, Los Angeles, Paris, St. Petersburg, Toronto and Zug, Switzerland. China's Dalian Wanda Group acquired Infront in 2015. IDG Capital is also an Infront investor.
China's food delivery giant Meituan-Dianping saw revenue grow 70.1 percent to $2.78 billion in the first quarter of 2019. Revenue from Meituan's core food delivery business was also up 51.7 per cent in Q1 year-on-year to 10.7 billion yuan. IDG Capital was an early investor in Meituan, which raised $4.2 billion in its initial public offering on the Hong Kong Stock Exchange in 2018.
The Mayor of Lyon, France, hosted the Olympique Lyonnais women's team in the city center less than 24 hours after the team celebrated its victory over Barcelona to win the Champions League trophy for the sixth time in nine seasons. The latest win enhanced the squad's reputation as one of the dominant teams in women's soccer. In 2016, IDG Capital invested $110 million in OL Groupe, now listed on the Paris stock exchange.
Lime, a San Francisco-based electric scooter and bike-sharing provider, is launching a new marketing program to demonstrate how micro-mobility is changing the global urban transportation landscape. The new marketing program was created in partnership with Anonymous Content, a commercial, film and television production company based in Culver City, California. In 2017, IDG Capital joined Lime's Series A funding round.
Cryptocurrency trading platform Coinbase announced a new product and marketing program to enable users to earn cryptocurrency by solving tasks, trying new protocols and answering quizzes. Coinbase, based in San Francisco, said it will offer the program in more than 100 countries. IDG Capital was an angel investor in Coinbase in 2013.
IDG Capital is leading a $145M funding in Kr Space, a co-working space operator based in China. Kr Space said that it will use the latest investment round to pursue its new business strategy aimed at making the firm“a full life-cycle office enterprise service provider.”Kr Space currently operates 40 co-working spaces in ten major Chinese cities and plans to expand soon into Hong Kong, Singapore, Tokyo and throughout the Asia-Pacific region. Since 2016, IDG Capital has participated in three Kr Space venture rounds.
Opera, a Norway-based web browser, is integrating Tron's TRX and TRC-standard tokens into its browser-based crypto wallet. Opera said the effort will allow users to play games and other applications created by TRON, a blockchain company. Opera, which now has more than 300 million users, went public on Nasdaq in 2018, raising $115 million. IDG Capital previously joined the firm's pre-IPO private placement.
Xiaomi, the world's fourth-largest smartphone maker, has opened its first physical store in Santiago, the capital of Chile. Xiaomi now sells more 130 electronic products in Chile, including cellphones, security cameras, computers and robot vacuum cleaners. The Beijing-based company said it will soon open six more stores in South America. IDG Capital was an early investor in Xiaomi, which went public in 2018 with a $52.7 billion valuation.
IDG Capital, a U.S.-based venture capital and private equity firm, is one of the top three investors in Chinese unicorns, or startups valued at more than $1 billion. Hurun, a Shanghai-based market research firm, said IDG Capital now has investments in 25 of China's 202 unicorns, as of Q1 2019.
Bilibili, China's leading online video platform, generated $204.7 million revenue in Q1 2019, a 58% increase over Q1 2018. Revenue from e-commerce grew 621% and its average monthly paid subscribers now exceed 5.7 million, a 132% increase over the first quarter of 2018. Bilibili first went public on NASDAQ in 2018 and is currently valued at more than $3 billion. IDG Capital led Bilibili's Series A funding round in 2017 and also joined its A+ and B rounds.
The 2019 EdTech Awards has chosen Qkids, an online education platform which connects native English-speaking teachers to Chinese learners, as a finalist in two contest categories – Personalized Learning and Language Learning. Qkids currently has 600,000 paid students in more than 10 countries and employs 15,000 teachers in North America. IDG Capital led the firm's Series B financing in 2017. Founded in 2015, Qkids operates out of Shenzhen, Xiamen, Guangzhou and Beijing.
Nasdaq-listed iQiyi, an online video platform based in Beijing, is now marketing a new $300 virtual reality headset. iQiyi said it believes its expertise in virtual and augmented reality, and artificial intelligence, will help expand the firm's 87.4 million customer base. iQiyi added 36.6 million new subscribers last year alone. Roughly 98.5 percent of its customers are paid. In 2017, IDG Capital joined iQiyi's private funding round.
IDG Capital has joined a $126 million funding round in Beidian, a Chinese social ecommerce platform that primarily focuses on products that allows users to buy, share and sell maternal and child-related products. Beidian currently has more than 50 million registered users, including 10 million monthly active users. It also processes more than 100 million purchases per business quarter. IDG Capital initially invested in the Beidian in 2017, the year it was founded. Beidian is an offshoot of Beibei Group, a Chinese ecommerce platform and offline retail store conglomerate specializing in maternal care products.
Acadsoc, a Hong Kong-based educational technology startup backed by IDG Capital, raised $14.8 million during a Series C2 funding round, China Money Network reported. Less than three months ago, IDG Capital co-led Acadsoc’s Series C round. Founded in 2013, Acadsoc initially provided one-on-one English-language tutoring services to Chinese families. In 2016, Acadsoc also began offering online English-language courses to both primary and middle school students, as well as adults.