Shareco completes A-round financing
BEIJING, June 18, 2015 -- Beijing Shareco Technologies Co., Ltd. (Shareco) successfully completed the A-round of financingon Thursday, the investor is Bluefocus Infinite Connectivity (Beijing) Investment Co. Ltd., a wholly owned subsidiary of BlueFocus Communication Group Co., Ltd.
As China's first in-flight connectivity solution and Internet-related service provider, Shareco's self-developed in-flight WIFI software system is grantedSTC certificate by the Hong Kong Civil Aviation Department, becoming the first company to receive this qualification in China.
The AirBox, a smart terminal device designed and produced by Shareco, has been allocated to over 200 planes, covering over 750 flightsofseveralcarriers, including Hainan Airlines, Capital Airlines, Tianjin Airlines, OK Air and Yangtze River Airlines. The tablets cover more than 60 cities nationwide, serve tens of thousands of people with 92% people on board opening them and,75% actually use them for an average usage duration of 42 minutes and 1.2 million monthly average pageviews.
Bluefocus Infinite Connectivity (Beijing) Investment Co. Ltd.was established in November 2014, and then invested in more than ten mobile Internet related companies, completing its layout in big data, mobile entry andtechnology platform. June 6, 2015, BlueFocus acquiredDomob and Madhouse with $ 360 million to enhance its dominant leading position inthe mobile Internet industry.
Quality customer resources is BlueFocus's advantage into the in-flight WIFI marketing industry, also in line with the company's overall strategy in development of emerging business such as mobile Internet, e-commerce and big data. According to Zhao wenquan, the Chairman of BlueFocus, “In the long term, Civil Aviation of China will allow the use of mobile phones in the cabin, resulting in the outbust of development of in-flight connectivity. The investment in Shareco allows us full of opportunities. “
About Beijing Shareco Technologies Co., Ltd. (Shareco)
Founded in August, 2012, Beijing Shareco Technologies Co., Ltd. has substantial experience in providing in-flight entertainment related services to Chinese and international commercial airlines through in-flight connectivity, content on the tablets it distributes for passengers to use, and e-commerce, among other things. By building up an ecosystem in the cabin, Shareco connects the demands of passengers with business partners as providers, extending services during flight to non-flying time of passengers. It has contracts with more than 10 airlines within China. It has planned to invest approximately $152.7 million to connect 100 aircraft within two years with the possibility of connecting up to 1,000 aircraft. The company distributes tablets on more than 200 aircraft and more than 800 flights. The company is headquartered in Beijing, China, with offices and teams located in Shenzhen and Shanghai.
Find out more at: www.shareco.cn Follow Shareco on Twitter：@SharecoTech
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