The battle for online traffic between Chinese internet giants has gone offline.
Xinchao Media Group said on last Friday that it had received an Rmb1 billion $141 million strategic investment from JD.com.
This is the second strategic investment for the elevator TV provider within 10 months. In November last year, Baidu invested Rmb2.1 billion $300 million in the company to develop artificial intelligence for elevator TV.
“The investment from JD.com is all in cash,” Xinchao’s PR manager Yun Xiao told FinanceAsia on the telephone.
Xinchao currently has 700,000 elevators in about 100 Chinese cities, and it...