56.com

56.com emerged in April 2005 as a significant player in China's burgeoning digital landscape, co-founded by Zhou Juan, Liang Sheng, and Tan Yi. The platform established itself as a video-sharing website centered on the principle of "share videos, share happiness." It primarily operates in the Chinese market, catering to a user base of over 60 million registered individuals, with a significant demographic concentration of users aged 18-45.

The company's business model revolves around a blend of user-generated content (UGC) and professionally produced videos. Users are empowered to upload and share personal videos, spanning life events, travel, and creative performances. Complementing this, 56.com forged partnerships with nearly a hundred television stations, film and television institutions, and record companies, including major names like Hunan Satellite TV, China Film Group Corporation, and Warner Music. These collaborations enabled the platform to offer hundreds of thousands of hours of licensed movies, TV series, and other professional content.

Revenue generation for 56.com is primarily driven by advertising. The platform has worked with hundreds of brand advertisers across various sectors, such as automotive, technology, finance, and consumer goods. It developed a range of advertising formats to create tailored marketing solutions for its clients.

The company's journey includes two major acquisitions. In September 2011, social networking platform Renren acquired 56.com for US$80 million, a move intended to integrate UGC video capabilities into Renren's social network. Co-founder Zhou Juan joined Renren's management team as a Vice President following the acquisition. Later, on December 31, 2014, Sohu reached a deal to acquire 56.com from Renren for a reported US$25 million, making it a fully owned subsidiary of Sohu.

Keywords: video sharing, user-generated content, online video platform, China internet, digital media, streaming service, 56.com, Zhou Juan, Renren acquisition, Sohu subsidiary, video advertising, professional content, content licensing, online entertainment, Chinese media