China-based Wanda Group announced that they will cooperate with 100 social We-media providers to establish the "Wanda We-media Coalition".
This is reportedly the first corporate We-media alliance in China. It will be formed by over 600 Wechat public accounts and official blogs of various units within Wanda Group, in addition to the 100 We-media providers. WeChat is the popular chat app in China run by Tencent.
Liu Mingsheng, senior president assistant of Wanda Group and initiator of Wanda We-media Alliance, said that they are willing to build a high-capacity and high-value flow pool with like-minded We-media organizations. Liu said they have found 100 such We-media organizations and jointly established the alliance.
In addition, Wanda will provide special funds to support the development of the alliance. Members of this alliance will enjoy priority to gain new media placement orders from all companies under Wanda Group.
Wanda promised that they will first invest CNY15 million to support We-media on its platform. Meanwhile, the group will help quality small and medium We-media by providing CNY100,000 to CNY150,000 start-up capital to each We-media organization annually.