Qidian
Qidian The premium career development service for international students and workers.
| Date | Investors | Amount | Round |
|---|---|---|---|
N/A | - | ||
| Total Funding | 000k | ||
Qidian.com, which translates to 'Starting Point Chinese Online,' operates as a major online literature platform based in Shanghai, China. It was established in May 2002 by a group of Chinese fantasy enthusiasts who initially formed the Chinese Magic Fantasy Union in 2001. The platform's primary goal was to foster a community for fantasy lovers and promote online literature.
The company pioneered a serialized, pay-to-read model in October 2003, which became widely adopted in the Chinese online literature market. This model allows readers to access initial chapters of novels for free and then pay for subsequent installments, typically priced per thousand characters. A significant portion of the revenue, around 70%, is shared with the authors, creating a viable income stream for writers. The platform also incorporates a tipping system where readers can directly reward authors. In October 2004, Qidian was acquired by Shanda, a major milestone that bolstered its growth. By 2014, it became part of China Literature (also known as Yuewen Group), a subsidiary of Tencent, following the sale of Shanda's online fiction sites.
Qidian's business revolves around user-generated content, where both amateur and professional writers publish their work, often in daily installments. The platform hosts a vast library of novels across numerous genres, including fantasy, wuxia, urban, historical, and sci-fi. Its client base consists of millions of registered readers who engage with the content. Beyond direct content sales, Qidian's business strategy involves intellectual property (IP) development. Popular novels are adapted into other media formats such as comics, animations, TV series, and games, creating a multi-faceted entertainment ecosystem. To expand its global reach, Qidian launched its international platform, Webnovel, in May 2017. This provides translated versions of Chinese novels and also hosts original works from international authors, serving readers in North America, Europe, and Southeast Asia.
Keywords: online literature, web novels, digital publishing, Chinese fantasy, Xuanhuan, Wuxia, serialized fiction, user-generated content, intellectual property monetization, China Literature, Yuewen Group, pay-to-read, micropayments, author platform, literary community, Webnovel, content licensing, media adaptation, digital entertainment, online reading