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Children digital library KaDa Story completed nearly 100 million RMB Series A+ financing from Yuxin Capital as lead-investor and Sanqi Mutual Entertainment as co-investor while TAL continues to increase its stakes. The next plan after financing will be on building quality content, product experience and gaining more market share.
KaDa Story announced their plans to go global and develop content for the international market. There was a change of name to “KaDa Story”, with the slogan “Where all good stories are”.
KaDa story provides digital picture books mainly for children aged 0-9. They also provide customized services on digital content for publishers, kindergartens, public libraries and other institutions.
Good stories come from good content. In order to ensure quality content, all the books are currently PGC (professionally generated content) by the company but plan to allow UGC (user-generated content) in the future. Content selection is based on click-through rate, bounce rate and rate of returning readers. In addition, KaDa story will establish and optimize reward systems covering KaDa medals, KaDa coins, KaDa card, and other mechanisms to stimulate children’s interest in reading.
According to the latest data provided by KaDa, the content supply chain of KaDa story covers more than 160 children’s content organizations in China, and more than 40 international organizations such as Walt Disney, French Baja Publishing Group and Oxford University Press.
Up to now, the KaDa story has more than 10 million users worldwide, with 800 million users’ reading data points. The average duration is 25 minutes per person and 4 reading books per person a day. There are more than 5,000 e-books, more than 15,000 audiobooks, and more than 205 global content organizations.
Yuwen Capital will be assisting KaDa in content creation (such as mining for content resources and creating their own in-house products) and content monetization (such as gaining more user traffic, channel distributions, forming the supply chain).
Revenue comes from both consumers and enterprises. When there are enough consumers, Kada will put their resources on the organizations such as kindergartens, primary schools and public libraries. They will also be providing high-quality content for intelligent hardware such as smart speakers, children’s robots, and projectors. Online radio station QingTingFM, children’s product provider KiddoTech, confinement platform MMBang are their strategic partners.
Representative Fangxinxin from lead-investor Yuxin Capital stated that education has long been a market they are concerned about. With the new trend in children digital content, KaDa story has advantages over content with its system and technology, thus stands out from the rest. Together with KaDa story, Yuxin Capital will explore and nurture more high-quality children’s content platforms to promote the development and innovation of children’s content industry in China, and eventually provide quality content for children and families around the world.
According to the Sanqi Mutual Entertainment, KaDa story conveyed the concept of happy reading to the children, so that children can learn and grow better in a happy environment. Sanqi Mutual Entertainment believed that this concept aligned with theirs. Both parties will work closely together to provide a rich learning environment with more efficient and interesting learning methods.
