How virtual idols create great business opportunities

In October, social media platform KilaKila completed Rmb120 million $17.2 million Series A fundraising from Nasdaq-listed Weibo, Sequoia Capital, and venture funds that include CITIC Capital, Axpfund and Qingyu.

KilaKila's chief executive Liu Zizheng told FinanceAsia that the company is using the proceeds to develop technology for virtual idols - a feature that can give each user an animated cartoon figure.

Users can design their own avatar within KilaKila’s app and use it during live streaming. Viewers will hear sounds from the actual person while watching a customized cartoon figure that mimics exact facial expressions and movement. According to Liu,...