Tking.cn, which claims to be the Stubhub of China, just closed its series A round investment.
Matrix Partners China, DCM Ventures and Nanshan Capital invested US$10 million in its series A and series A+ round.
Tking.cn operates an online ticketing platform under the Niumowang brand. Stubhub is an online ticket exchange owned by eBay in the United States.
The online event ticket marketplace in China is currently dominated by a few larger players, including Maoyan, the merged Gewara and Wepiao, Alibaba's Taobao online ticketing arm and Mtime, each taking a 36%, 30%, 6% and 6% market share, respectively, according to Credit Suisse.
Tking.cn connects event ticket aggregators and wholesalers directly with end users, thereby enabling discounts to consumers. Around 90% of the tickets listed on its platform offer discounted prices.
Since its establishment, Tking.cn claims cumulatively over 500,000 users and has partnerships with hundreds of ticket agents and performance companies in China.