SAIF Joins $90M Round In Chinese Social Media Marketing Firm IMS

Chinese social media marketing company IMS New Media Group has raised a RMB600 million (US$90 million) series C round from Sina Weibo, Morgan Stanley, China Merchants Bank, CSC Financial Co., Ltd. and SAIF Partners.

The round values the start-up at over RMB10 billion (US$1.4 billion), enabling the company to join China Money Network's China Unicorn Ranking. With the investment, Weibo's CEO Wang Gaofei will join IMS' board, according to a company announcement

Founded in 2009, IMS offers social media marketing solutions based on big data. Its product WEIQ is an online advertising trading platform, connecting small and medium-sized enterprises and e-commerce companies with social media accounts run by individuals. The platform currently has over 810,000 social media accounts ...

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