Leyaoyao

About Leyaoyao

Founded in September 2015, Leyaoyao is a digital services platform for intelligent self-service equipment, operating under the full name Guangzhou Leyaoyao Information Technology Co., Ltd. The company was established by CEO Chen Geng-hao, who previously founded the marketing interaction company Weidian Hudong in 2011 after gaining marketing experience at Unilever and HP. He is joined by a team that includes CMO Xu Deqiang and CTO Yang Kairan.

Leyaoyao provides an integrated solution combining intelligent communication hardware (IoT) with a SaaS system, enabling mobile payments and remote management for offline self-service devices. The firm initially focused on upgrading claw doll machines, a market with approximately 2 million units in China, by retrofitting them with a hardware box and a SaaS system to accept mobile payments. This move was reported to increase machine revenue by about 28%. The business model is asset-light, as Leyaoyao partners with machine manufacturers to install its hardware rather than producing the machines itself.

The company's platform allows operators to remotely monitor device status, revenue data, and malfunctions via their mobile phones, which significantly reduces labor costs. For consumers, it offers the convenience of using mobile payment options like WeChat Pay and Alipay to operate the machines. Leyaoyao generates revenue through advertising distribution and takes a percentage of the profits from advertising orders. Its business has expanded beyond claw machines to include a wide range of self-service equipment in sectors like entertainment, retail, and lifestyle services, such as massage chairs, washing machines, and electric vehicle charging stations. The company serves over 500,000 merchants across more than 600 cities and has provided services to over 200 million end-users. Leyaoyao has secured significant funding through multiple rounds, including a Series C led by Tencent in 2020 and a Series D in 2021, demonstrating strong investor confidence.