Baobao

About Baobao

Beijing Xinghe Times Information Technology Co., Ltd., operating under the brand Baobao (myhug.cn), is a venture capital-backed company established in early 2014. The firm was founded by Shu Xun, who also serves as the CEO. Shu Xun brings extensive experience from his previous executive roles at Baidu, including General Manager of the Baidu Tieba business unit and various director-level positions, providing a strong foundation in internet services and community platforms.

The company's primary offering is a social live video streaming platform accessible via its mobile application, "Baobao Live". Initially launched as an anonymous social network, the business pivoted to capitalize on the growing live streaming market. The platform allows users to broadcast their own video content, watch streams from other users, and interact in real-time. Key features include live chat, virtual gifting, and automatic beautification filters for the streamers. The business model primarily generates revenue through in-app purchases, where users buy virtual gifts to send to their favorite content creators.

Since its inception, the company has secured significant financial backing. It completed a seed round in February 2014, followed by a Series A in March 2015. A substantial Series B+ funding round of $15 million was raised in July 2016, with notable investors including Tencent, GGV Capital, K2VC, and Meridian Capital. Headquartered in Beijing, China, the company also operates other social applications, such as "Ermi," a voice-based social platform, and "Avalon," a social deduction game app.