Beijing Weiying, the Ticket Booking Startup Raises $105M

What does Beijing Weiying do?

Beijing Weiying Technology, is an online platform for online movie ticket booking. It is the maker of movie ticket booking platform. This startup coordinates with more than 2000 movie theatres in China, including the chain of Wanda’s cinema. This ticket booking platform is embedded in China’s largest messaging app, WeChat.

How much Beijing Weiying Technology was funded?

Beijing Weiying Technology raised $105M in Series B funding on April 28^th, 2015 from the investors WANDA Group and Tencent Holdings.  Tencent has funded WePiao after its rival Alibaba has acquired Guangdong Yueke Software Engineering, the Hong Kong based cinema ticketing company for $134M last week.

What is next for Beijing Weiying Technology?

Beijing Weiying Technology plans to use the latest funding on expanding its services to other entertainment sectors which includes online ticket booking for sports events and performances.

More about Beijing Weiying Technology

Beijing Weiying Technology was founded in 2014 by David Lim. It has its headquarters in Beijing. WePiao, is a Weiying app which can be accessed through WeChat and Tencent’s instant messaging platform, QQ. It offers buying movie tickets through payment info stores by the users in their account. It is not just the movie ticket booking, users can also choose seats, order popcorn and drinks too. WePiao app claims that it is covering about five hundred cities and 3,500 movie theatres in China.

Payments are handled through mobile payment system of Tencent, which allows users to store their bank info on their smart phones and simply click on the button “buy tickets” when they want to go to a movie.

Beijing Weiying Technology enables electronic ticketing systems and facilitates 3^rd party electronic payments using Alipay and other similar systems. People who use services for online movie ticket in China grew 42.9% in 2014, while the bookings number made through smart phones hiked to 109%.