# Beijing Liuqu Network Technology Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/beijing-liuqu-network-technology-co

- Industry: Software
- Headquarters: Beijing, China
- Website: www.66rpg.com
- Total disclosed funding: $17M
- Latest round: Series C (May 9, 2018)
- Investors on record: 7

## About

Beijing Liuqu Network Technology Co., Ltd. is an interactive storytelling company that specializes in immersive narrative-driven games and visual novels, offering engaging user experiences primarily through its mobile application.Founded in 2012 and headquartered in Beijing, China, Beijing Liuqu Network Technology Co., Ltd. develops an interactive reading platform known as ?? (Chengguang). The company has completed a total of 6 deals, with the most recent funding round being a Series C in May 2018, where it raised CNY 100 million led by Atlas Shanghai. The CEO of the company is Xiaoyu Liu, while the founders are Rui Tang and Xiaoyu Liu.The company’s core product, ?? (Chengguang), is a mobile application that offers a unique interactive reading experience focused on immersive storytelling through various narrative-driven games and visual novels. Users can explore a broad range of genres, including romance, adventure, and fantasy, making choices that influence the storyline and engage in high-stakes scenarios. This platform is primarily targeted at a younger audience, such as students and young adults, and has a strong presence in the Chinese market alongside growing distribution in other East Asian regions.The revenue model for ?? is primarily based on a freemium approach, allowing users to download the app for free. Users can purchase in-app credits for premium content, engage in transactions using virtual currency, and subscribe to membership plans for exclusive access to new releases and promotions. This model supports user retention and encourages repeat purchases among individual consumers and potential partnerships with content creators and publishers.Following the recent Series C funding round in May 2018, in which Beijing Liuqu Network Technology Co., Ltd. raised CNY 100 million, the company plans to enhance its product offerings and expand into new markets. Upcoming releases are focused on developing additional interactive storytelling experiences to broaden their content portfolio. The funding will be utilized to support expansion efforts in other parts of East Asia, targeting markets that have shown an increasing interest in mobile interactive entertainment, with plans to initiate these efforts by the end of 2023.

## Funding rounds

- Series C, May 9, 2018, $16M — Greenwoods Asset Management, Guojin Capital, Atlas Shanghai
- Series B, May 26, 2017 — Redpoint Ventures, Trustbridge Partners, Guojin Capital
- Seed, Jul 1, 2014, $1M — Sinovation Ventures
- Angel, May 1, 2013 — CBC Capital

## Investors

- CBC Capital (https://capitalatlas.ai/funds/cbc-capital) — Angel
- Sinovation Ventures (https://capitalatlas.ai/funds/sinovation-ventures) — Seed
- Redpoint Ventures (https://capitalatlas.ai/funds/redpoint-ventures) — Series B
- Trustbridge Partners (https://capitalatlas.ai/funds/trustbridge-partners) — Series B
- Guojin Capital (https://capitalatlas.ai/funds/guojin-capital) — Series B, Series C
- Greenwoods Asset Management (https://capitalatlas.ai/funds/greenwoods-asset-management) — Series C
- Atlas Shanghai (https://capitalatlas.ai/funds/atlas-shanghai) — Series C