China’s e-commerce service provider, Mediabook Network, has recently completed consecutive Series A and Series A+ rounds of funding totaling nearly 100 million yuan with Series A investors being GF Fund Management and Series A+ investors being Ming Venture Capital.
Chinese e-commerce service provider Mediabook Network has recently completed Series A and Series A+ financing rounds of nearly 100 million RMB with Series A investor GF Fund Management and Series A+ investor Ming Venture Capital. Previously, Mediabook Network had received an angel round investment from Mr. Jun Liu, an angel investor of ByteDance. Voyage Capital continuously served as its exclusive financial advisor. It is reported that this round of funding is mainly used for new live streaming construction, talent recruitment, interest e-commerce system development and exploration of new growth models.
Mediabook Network’s business is divided into two main parts: digital marketing (Mediabook Advertising) and TikTok e-commerce agency operation (Midi Network). The former provides integrated marketing services for brands (including digital creative, e-commerce promotion, media procurement, PR activities, etc.) while the latter mainly provides store operation, e-commerce content, self-broadcast operation, Dabo distribution, warehousing and distribution, customer service, etc.
In addition, Mediabook has also become a consulting service provider of TikTok Yuntu and Qianchuan agent this year. Taking store operation as an example, Mediabook will provide customers with “data asset analysis and business consulting, e-commerce creativity and promotion, self-broadcasting and DBC growth, advertising, warehousing and logistics, pre-sales and after-sales” solutions for interest-based e-commerce.
Unlike Baozun, ChanceMat and other Chinese companies mainly engaged in Taobao and Tmall store operations (commonly known as “TP”), Mediabook is positioned as a “TikTok operation”, also known as “DP”, which is an emerging industry born along with the rise of TikTok e-commerce.
“Compared with TP, DP has more comprehensive requirements for the team, which requires not only excellent e-commerce genes, but also good content creation and digital marketing capabilities,” said Wang Cong, founder of Maiwei Network. “Previously, TP’s marketing and e-commerce departments were separated but the TikTok platform requires close cooperation between the two. Otherwise it is difficult to obtain traffic in a sustainable and stable manner”
Relying on its past years of experience in TP and digital marketing, since launching its DP business in January 2020, Mediabook Network has netted a number of international beauty and local Chinese consumer brands, including Amore Pacific, Johnson & Johnson, Unilever, Estee Lauder, Bull Electric, etc.. It has quickly grown into the head DP of the Jitterbug platform.
Take Sulwhasoo as an example, its self-broadcast GMV reached $3.6885 million during the Double 11(Chinese Shopping Carnival) alone, with an annual self-broadcast ROI of 4.17, ahead of the beauty industry average of 1.5-2. Dr. Jart+ reached a self-broadcast result of nearly $3.158 million in the first month of launching the self-broadcast. The Dabo segment of Mediabook planned a special carry campaign on May 18 last year for the head live streamers of TikTok into the counter of Sulwhasoo, which created an international beauty carry benchmark case of $17 million in 9 hours.
Like traditional TP, Mediabook still uses “service fee + commission” as the main source of revenue while expanding e-commerce marketing and data consulting revenue. According to Wang Cong, the net profit for a single month last October exceeded $789,500. Despite the international beauty FMCG sector, Mediabook is also actively exploring the local consumption of DP and TIKTOK overseas business.