Chuangyebang was informed that recently, The Paper announced the official completion of the B round of financing. Shanghai Cultural Industry Development Investment Fund (hereinafter referred to as the above investment) exclusively invested 400 million yuan to increase its capital and share in Shanghai Oriental Press Co., Ltd. (Oriental Press), the main body of The Paper. After the capital increase was completed, the above investment became the second largest shareholder. Shanghai Paper Group is still the controlling shareholder of The Paper.
At the same time as the announcement of the B round of financing, The Paper made a strategic release for a new round of development, and 5 new sectors involving content, technology and operations were fully launched. They are: The Paper Open Platform, The Paper Mingcha Chinese and English website, the Paper Technology Channel, the Digital Content Ecological Laboratory, and the Paper ESG Project. The Paper has also simultaneously launched government affairs and business service projects such as the “China Urban Cultural Brand Program”, “New Consumer Brand Partner Program”, “The Paper Good Things Partner Program”, and “Urban Renewal Conference”.
The Paper was officially launched on July 22, 2014. It is a pioneer in the transformation of Chinese traditional media into the mobile Internet. Over the past 8 years, The Paper has ranked first in the mainstream media in China in terms of dissemination, influence, and guidance. It is reported that The Paper will take the B round financing as an opportunity to comprehensively accelerate the business layout, and further develop and transform into a leading, empowering and global new Internet mainstream media.
The above investment was jointly initiated by the Shanghai Municipal Government, the Pudong New Area Government and Shanghai Industrial (Group) Co., Ltd., and was jointly established by Shanghai Industrial (Group) Co., Ltd., Shanghai Guosheng (Group) Co., Ltd. and Shanghai Pudong Science and Technology Group Co., Ltd. The total scale is 12 billion yuan, and the first phase is 5.55 billion yuan.
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