If you live in China, you know them. After dusk, you see groups of elderly women dancing synchronized choreographies and blasting loud music in China’s public spaces. You might watch them with fascination, you might watch them with a smile or you might join in but who would have thought that this could be a lucrative market worth tapping into?
Young entrepreneur Zhang Zhiwei’s app, named “Public Dance Classics”, has reportedly received millions from VCs including the Shenzhen-based Dreamchaser Fund and the Wuhan Economic Group. The app is a collection of hit songs and videos of dance routines that can be watched, downloaded and played offline. He originally developed the app for his mother and his aunties as a tool to collect and store dance videos.
The app has now surpassed 50 000 downloads but Zhang does not plan on laying back at this point. He is aiming to attract over a million users by adding social features and running larger-scale promotions. His goal is not overly ambitious as it is estimated to have up to 100 million dancing grannies out there, who are eager to learn new moves and to show off their own.
While a cocktail of Chinese grannies and tech does not seem like the most obvious investment opportunity, it shows that refreshing ideas are warmly welcomed by China’s VCs.