ByteDance has poured RMB 180 million (USD 25.8 million) in Beijing-based celebrity management agency Mountain Top as the strategic and sole investor in the startup’s Series B round, 36Kr reported on Thursday.
Mountain Top, which was founded in 2015, manages a portfolio of TV stars and online influencers as clients. Famous Chinese actress Angelababy is part of the company’s roster, as well as Zhou Dongyu, who was one of the faces of Burberry’s 2019 Chinese New Year ad campaign.
The firm also manages the brands of online influencer Papi Jiang, who has more than 30 million followers on ByteDance’s short-video app Douyin.
Mountain Top’s founder and CEO Yang Ming said his company will start all-around strategic cooperation with ByteDance.
KrASIA first reported about ByteDance’s investment in Mountain Top last March 2019. It took nearly one year for the celebrity agency to complete its Series B round.
This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.