Source Code Capital Portfolio Company Xinchao Media Receives Strategic Investment from Baidu

On November 14, Baidu announced a strategic investment in Xinchao Media, a portfolio company of Source Code Capital. Xinchao Media raised a total of 2.1 billion RMB in this round, led by Baidu. Following the establishment of their strategic partnership, Xinchao Media's extensive network of community offline smart terminals will be deeply integrated with Baidu's online data, providing enterprises and brands with more precise media traffic solutions. Xinchao Media has also officially become a new member of Baidu's Juping media alliance.

At the same time, Baidu will empower Xinchao Media's offline media with big data algorithms and artificial intelligence, jointly building an online-offline media fusion traffic platform for "AI + elevator media." China Renaissance served as the exclusive financial advisor for this transaction.

With the Internet of Things and 5G era approaching, every offline media carrier will be digitally transformed and connected to the internet. Xinchao Media was the first to announce the beginning of China's community offline media digitalization era in 2017.

In April 2018, Xinchao Media signed strategic agreements with China Mobile, Huawei, and Xindajie'an to jointly build China's lifestyle IoT traffic laboratory. In August 2018, Xinchao Media launched its Bee Intelligent Targeting System (BITS), a programmatic system product for community elevator smart devices powered by big data and AI technology, enabling programmatic placement across Xinchao Media's smart terminals and providing advertisers with one-stop intelligent marketing services.

Currently, Xinchao Media has established presence in over 100 cities nationwide, with nearly 700,000 elevator screens. Every transformation is a driving force.

As a leading innovator in China's offline media digitalization space, Xinchao Media's strategic cooperation with Baidu will strengthen its confidence in advancing the digitalization of China's offline media, providing customers with more precise and cost-effective community media traffic solutions!

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