Papi Jiang’s sensation attracts US$3.4m
Print Edition
AN online cosmetic broker invested by Alibaba Group has won a first-of-its-kind bid with 22 million yuan (US$3.4 million) for the exclusive rights to embed commercials in videos made by Papi Jiang, an Internet sensation.
The bid hit the hammer price in under six minutes from the starting price of 217,000 yuan. Alibaba-invested Lily and Beauty Co, an Internet TV startup and a home robotics maker were the only ones left in the final round of the bid.
The final bid price largely outstripped an average market price of about 400,000 yuan for a video blogger who attracts the same volume of viewers, according to Zhang Quanling, a venture capitalist and former TV anchorwoman.
The winner of the bid could gain a one-time promotion through Papi Jiang’s performance after May 21, one month after the bid, according to Luo Zhenyu, Papi Jiang’s investor and the bid’s organizer.
Venture capitalists, including Luo, have plowed a total of 12 million yuan into the Jiang phenomenon in mid-March.
Yang Ming, Papi Jiang’s manager, said all the money raised would be donated to the Central Academy of Drama, where she is studying for a master degree.
Papi Jiang, the 30-year-old sensation whose real name is Jiang Yilei, is a Shanghai-born student in film directing at the academy in Beijing.
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