56.com is a leading user generated content (UGC) video-sharing website in China. The vision of having users post and share their life experiences online through video format has consistently been the core focus of 56.com.
56.com hosts more than 80 million online videos, the majority of which is user generated, followed by in-house productions. In December of 2008, 56.com obtained the online video license from the State Administration of Radio and Television of China. 56.com was the first online video site to provide Video Album service in China and was also the first to offer the popular “Beauty Show” in China.
56.com has developed numerous partnerships with world famous clients such as Audi, Toyota, Coca Cola, McDonald, Nestle, and Nike. Since inception, 56.com has received investments from venture capital firms including Sequoia Capital, Steamboat Ventures, CID Group, and SIG.In October 2011, 56.com was fully acquired by Renren Inc. and became a part of the Renren Group.
Funding Rounds (2) - $30MUpdate
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