Beijing Phoebe Media Co., Ltd. was founded in 2011 and has been operating officially since June, 2016. It invests in, produces, and releases films targeting at new media, and is expert in the marketing and distribution of low- or medium-cost cinema films. So far, the company has been successful in the investment, production, or distribution of more than 50 movies and TV series streaming online, and has bought the rights of 6 novels. In September 2017, it received 10 million RMB from Huabin Capital in the angel investing stage of fundraising.