WeChat official account popularizing art gets valued at more than RMB 200 million after series A

Yiwai11 (意外艺术), a WeChat official account dedicated to popularizing fine art, recently announced it has acquired more than RMB 20 million in a series A, putting its valuation at more than RMB 200 million, local news is reporting (in Chinese).

Rather than the minority wealthy or artist population, Yiwai11 pinpoints the broader public as its target market. The official account has been successful in popularizing fine art among Chinese people by translating dull and difficult art content into something suitable for a lower common denominator. Its 40-episode art talk show “Is art difficult?” has racked up 300 million views since its launch in 2014, with 2.5 million unique viewers.

The financing round, led by Toutoushidao Capital, is the latest in a financing boom seen among WeChat official accounts. These official accounts have an edge in terms of business value expansion and ability to obtain vast user base with low costs. They are now cashing in on the platform provided by WeChat in various ways, such as selling advertising, marketing advertorials, providing services, and selling products through O2O.

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