Y Platform, a video channel network in China founded by Israel’s Gal-Or family and Chinese investors, has completed a USD3.5 million A round investment. This brings to USD5 million the amount raised by the company since it was established. The round was led by Weibo, the Chinese equivalent of Twitter, with nearly 500 million users, and with the participation of Kunlun Wanwei Technology, one of China’s largest gaming companies. The funds raised will be used to upgrade the network’s content, expand e-commerce activity and enter markets outside of China.
Y-Platform was founded in 2017 in Beijing by Raz Gal-Or, who serves as the company’s President with responsibility for its global business activity, while his father Amir Gal-Or serves as chairman. In addition, the Chinese partners involved are Fang Yedun who serves as CEO, Zhang Ximan, Director of Operations with responsibility for e-commerce, and Liu Xiaoqi.
Y-Platform got its start by launching the YChina video project that was designed to showcase life in China around the world, using original video content starring online influencers in the fields of culture, lifestyle, entertainment and innovation. The content is broadcasted over Chinese video platforms including Weibo, Bilbili, Tiktok and WeChat, as well as on YouTube, Facebook and Instagram. The company has over 70 million subscribers with 300 million monthly views and amassing 5 billion views to date.
Another Y-Platform video content initiative is intended to showcase the outside world to the Chinese public through the participation of 40 global cultural celebrities who are featured in video productions that focus on ten fields which include: culture, fashion, entrepreneurship, tourism, sports and entertainment.
Finally, Y-Platform has developed an advertising affiliate for e-commerce and marketing that transcends borders with the cooperation of more than 300 of the leading Chinese and global brands, including Google, General Electric, Huawei, Tencent, Alibaba, L’Oréal, McDonalds and others. Y-Platform also produced several original video series that were broadcasted on Tencent Video (the Chinese equivalent of Netflix), popular video site Bilbili and CCTV, the largest TV network in China.
Following the coronavirus outbreak, Y-Platform used its outreach to launch a global initiative of 100 volunteer doctors from the largest hospitals in Israel to provide live online medical instruction on a variety of medical topics aimed at millions of people who are in isolation or fear going to clinics or hospitals due to concerns of getting infected.
Raz Gal-Or, founder and president of Y-Platform, says: “we are striving to deepen cultural exchange between China and the world through the use of video content that features China’s multifaceted population that lives in this huge country.” Gal-Or adds: “The company is planning to double its workforce from 50 to 100 workers with an emphasis on hiring talent in the fields of content and e-commerce as well as signing up additional influencers from China and other countries that have a global outlook and capabilities to express themselves.”
