Founded in 2007, Chengdu-based Xinchao Media is a technology media company with a primary focus in elevator advertising. Most of its smart screens are located in elevators in middle to high-end residential developments. The company reports that its coverage encompasses over 600,000 elevators across more than 100 cities in China, reaching 200 million consumers.
Backers of Xinchao Media include search giant Baidu, the start-up’s first investor. In 2019, e-commerce giant JD.com also led a financing round for Rmb1 billion ($140 million), alongside retailers like Kuka Furniture and 58.com. In the next five years Xinchao plans to install 2 million elevator smart screens reaching 300 to 500 million people each day.
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