WeChat's movie ticket booking app WePiao raises $105 million

Beijing Weiying Technology, a movie ticket booking platform that is embedded in WeChat, China's giant messaging app has managed to secure $105 million in series B round funding.
WeChat’s movie ticket booking app WePiao raises $105 million

The funding was led by WeChat owner Tencent and Wanda Group, China’s largest movie theatre operators.

WePiao, which is a Weiying’ app, can be used through WeChat, as well as QQ (Tencent’s instant messaging platform). WePiao offers buying of movie tickets using payment information stored by the users in their account. Apart from booking, the users can also select seats, and order drinks and popcorn. The app claims to cover near about 500 cities and 3,500 theatres in China.

WeChat also offers many online payment and e-commerce services such as utility bill payments, taxi-bookings, and a newly launched service that let users find local services, file police reports and make medical appointments. WeChat has 500 million active users and this makes it China’s most popular messaging app.

Line, a similar messaging app has started a same approach by transforming itself into a lifestyle platform. They have added features like food ordering, taxi booking and streaming music.

People who use such services for online movie ticket in China grew 42.9 per cent in 2014, while the number of bookings made through mobile phones jumped to 109 per cent.

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