China: IDG, Frees Fund participate in dancing video app Tangdou’s $20m round

Tangdou, an online video portal and mobile app for group dance exercises, has attracted $5 million investment from venture capital firms IDG Capital and Frees Fund, according to a report by China Money Network.

The investment comes as a part of a $20 million round raised by the company. The first tranche of the round was raised a couple of months ago when the company got $15 million from  Shunwei Capital, Legend Capital, Engage Capital and Redpoint Ventures.

As per the report, the  company plans to invest the latest round of funding on marketing and operational improvement. It plans to expand its content and services into the larger well-being and health aspect in the future.

The Tangdou app provides free dancing tutorials for beginners, live streaming services, and well as a communication platform that allows users to connect with each other. As compared to other similar apps that are aimed at the youth, this platform is targeted at people aged above 35 years.

According to the China Money report, at the end of 2015, there were 222 million people in China above the age of 60 amounting to 16.1 per cent of the total population while people above the age of 35 stood at 950 million equaling 70 per cent of the overall population, presenting a huge opportunity.

“This population has been overlooked,” Zhang Yuan, founder of Tangdou, told Chinese media. “We give them a platform to learn new dances, meet other dancers, post videos of their performances. These are all things they would like to share with friends and family.”

Tangdou’s mobile app was launched in 2015, and the company claims to have 2.5 million daily active users at present.

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Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.