# Palmyue Technology Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/palmyue-technology-co

- Industry: Hardware
- Headquarters: Beijing, China
- Website: http://www.zhangyue.com
- Total disclosed funding: $62M
- Latest round: Series A (Jan 4, 2016)
- Investors on record: 2

## About

Palmyue Technology Co., Ltd. is a digital reading company dedicated to enhancing user experiences through innovative products and services, including a comprehensive digital content platform accessed via its iReader App.Founded in 2008 in Beijing, China, Palmyue Technology Co., Ltd. specializes in digital reading solutions. The company has undergone various strategies to enhance its market presence. The firm raised CNY 1,061.00 mn during its PIPE funding round on September 20, 2017, with notable investors including Bilibili Inc. and CITIC Securities. Xiangjun Cheng serves as the CEO of the company, leading it through its growth phases.Palmyue Technology Co., Ltd. specializes in digital reading, offering a range of products including the iReader App, which provides access to a wide array of digital content such as books, audiobooks, comics, and magazines. The app supports multiple languages, catering to a global audience across over 150 countries. The company also collaborates with educational institutions and corporations to provide tailored digital reading solutions, and is developing a collaborative translation platform to meet the increasing demand for multilingual content.In the most recent year of 2021, Palmyue Technology Co., Ltd. generated revenue of CNY 320,973,784.90, with an EBITDA of CNY 40,389,110. The company employs a subscription model for its iReader App and partners with various publishing entities to facilitate revenue-sharing agreements. Its initiatives in international markets also contribute to its revenue structure.Palmyue Technology Co., Ltd. is strategically focused on launching new features for its iReader App, enhancing user engagement and expanding its content offerings. The firm aims to penetrate new markets, particularly targeting expansion into Southeast Asia and Europe by 2025. The capital raised in the PIPE funding round will support these growth initiatives, along with the development of localized content tailored to diverse audiences.

## Funding rounds

- Series A, Jan 4, 2016, $62M — Guangdong Alpha Animation and Culture Co., Ltd., Guojin Capital

## Investors

- Guangdong Alpha Animation and Culture Co., Ltd. — Series A
- Guojin Capital (https://capitalatlas.ai/funds/guojin-capital) — Series A