Wandoujia (or SnapPea), Chinese Android app distributor and mobile service provider, announced today $120 million funding in Series B led by SoftBank Corp. and joined by DCM and Innovation Works Development Fund (IWDF).
Not referring to itself as a mere app distributor, Wandoujia positions itself as a service for users to access all kinds of mobile content and services. In the second half of 2013 the company released a mobile video search engine. It’s product portfolio also includes in-app payments SDK for mobile games.
China’s Android app distribution market now is dominated by a few players including Baidu — through the acquisition of 91 Wireless in 2013 — and Qihoo. Although Wandoujia is of the top, those competitors are way more powerful.
Established in April 2010, Wandoujia is one of the only batch of tech startups incubated by Innovation Works which now is a venture capital fund. DCM let the Series A round of funding, $8 million. Innovation Works participated in all the rounds.
It is rumored that AppChina, another app distributor of the batch, is looking to sell. The company doesn’t perform well in app distribution but managed to make some revenue from operating third-party mobile games.