FOUNDED BY LI QIAO, THE COMPANY HAS RECEIVED A SUCCESSFUL FINANCING OF 100 MILLION YUAN IN ITS SERIES A+ FUNDING ROUND
February 15, 2022: Hongsong has proudly announced that it has recently completed a successful round of financing a hundred million yuan. Based out of China and founded by a seasoned business leader Li Qiao, Hongsong is an online interest community for the middle-aged and elderly people. Moreover, this successful round of financing was led by an industry giant BAI Capital along with the old shareholders including Matrix Partners Capital, Genesis Partner Capital CCV, and Lanchi Venture Capital All. Hongsong has proudly served more than 10 million retired people, and it has thousands of webmasters to facilitate its rapid expansion.
“Our vision is to see Hongsong emerge as the largest online interest community for middle-aged and elderly people in China.” Li Qiao, the Founder, and CEO of Hongsong, while sharing the vision behind starting this business. “I believe that trust is the cornerstone of any transaction, and our team has a solid and efficient service platform management experience and a deep understanding of relationship chain construction, which will play a major role in strengthening the trust of our valued clients.” The CEO added. According to the CEO, Hongsong is a one-of-a-kind initiative, committed to serving the Chinese retirees nationwide.
Another remarkable aspect of this emerging new platform is its commitment to interesting and socializing areas of interest. These areas particularly include vocal music, musical instruments, calligraphy, painting, dance, recitation, health, digital, English, and tourism. With its innovative ‘Small Station’ model, Hongsong has integrated teachers from all over the country, so that retired people can not only learn knowledge online, but also make friends with like-minded interests. Therefore, the retired people will keep themselves busy, while also having secure finances.
According to the seventh national census of May 2021, out of the 1.4 billion Chinese population, 18.7% were aged 60 and above, while 13.5% were aged 65 and above. This shows that the number of elderly people increased by 5.44% as compared to 2020. To fulfill the needs of this huge elderly market, Hongsong is moving in the right direction because the new generation of middle-aged and elderly people have higher requirements for content, entertainment and quality of life, as well as stronger spending power and ample time.
In addition to the Small Station initiative of Hongsong, the company has also introduced another important platform for the elderly called the Hongsong Club. This club provides community operation tools to webmasters, such as live broadcast rooms, sub-channels with different labels, and many other exciting options for the elderly. Members of this club can also use live broadcast, channel group chat, space, etc. way to communicate and express themselves. The CEO believes that Hongsong has always maintained a kind heart to build trust with users, because trust takes time to build.