Chinese Video app maker Miaopai has received $50m in series C funding from a group led by venture capital firm Kleiner Perkins Caufield & Byers, according to Sina Tech.
The app is similar to Vine which allows users to create 10 second videos and add effects, watermarks, music and share the clip on its platform.
Miaopai maker claims to have more than 20 million users, but it is a lot less than compared to Vine’s more than 40 million users recorded back in 2013.
Miaopai was launched in 2011 with a different name (Yi Xia) a year ahead of Vine, but it became popular for its short video feature with no time limit.
Miaopai was renamed and rebranded with additional features, but it was unable to grab the attention of the users in the Chinese subcontinent.
The app has celebrity backing and it uses celebrities to pull in regular users. Its previous round of funding was also arranged by StarVC, which is a venture capital firm set up by three famous Chinese celebrities Li Bingbing, Huang Xiaoming and Ren Quan.
The app maker has not confirmed the funding reports, but the firm is expected to use the finances to promote its platform.
