Birth of Chengdu's First Unicorn, Valued at USD 1.5 Billion
www.chengdu.cn | release time：March 23rd,2018
On March 23, 2018, the Torch High Technology Development Center of the Ministry of Science and Technology of China and the Research Institute of Great Wall Strategic Consultant jointly published the 2017 China’s Unicorn Enterprises Development Report in Beijing. Chengdu's homegrown Xinchao Media appeared on the list at the 65th spot with a valuation of USD150 million, thereby marking the official birth of Chengdu's first ever unicorn.
Xinchao Media is a new economy enterprise that pivoted from a traditional media company into a "smart hardware & software" advertisement service provider. Having raised a total of more than RMB 4 billion in capital, Xinchao at present is valued over RMB 10 billion.