Content incubation platform Ju, a startup that uses blockchain to verify content as authentic intellectual property (IP), raised nearly RMB 10 million, or USD 1.5 million, in an angel round from undisclosed investors.
Positioned as an incubator for original short-video content since its launch in July 2020, Ju hopes that its user base of 400,000 will grow while its 6,000 content creators churn out unique and professional works on the platform. The company employs more than 5,000 scriptwriters supplying creators with a steady stream of content ideas to post on social channels.
Ju mainly disseminates content on Douyin and provides training for creators in categories like social and family life, comedy, entertainment, history, and culture. The company wants to use blockchain to protect its IP and leverage 5G networks to enhance content creation, according to founder Ma Jianjun, who used to work for Tencent and is a serial entrepreneur. So far, Ju generates around RMB 1.5 million (USD 231,000) in monthly revenue, with a profit margin of around 30%.
Going forward, the company will look to add more film production professionals to its platform to enhance the level of its content incubation. As the company grows and the content quality from its creators improves, it wants to attract more brands for partnerships and sponsored content. Ju is currently raising its pre-Series A investment.
KrASIA Connection features translated and adapted content published by 36Kr. This article was originally written by Lian Ran for 36Kr.
Original posted at kr-asia.com