Yijian Diancang (Beijing) Network Technology Co., Ltd.

Yijian Diancang (Beijing) Network Technology Co. , Ltd. is an online auction platform that specializes in art and cultural products, connecting buyers and sellers in the art community with continuous auctions. Founded in 2013, Yijian Diancang operates as an online marketplace for art and cultural products.

The company is headquartered in Beijing, China. Yue Geng serves as the CEO. Yijian Diancang raised CNY 25 million in its SERIES A funding round in September 2016 from LongLing Capital, bringing the total amount raised to CNY 25 million. The firm has completed 2 deals since its inception.

Yidian Wangpai operates as a continuous online auction platform specializing in art and cultural products, providing a marketplace for both buyers and sellers within the art community. The platform caters to art collectors, dealers, and enthusiasts by offering a diverse range of artwork, including paintings, sculptures, and collectibles. Users can participate in 365-day auctions, allowing them to buy and sell items at any time, thus addressing the need for accessible and flexible engagement in the art market. The service facilitates direct transactions between individual collectors and the broader art community, appealing to those seeking unique pieces or looking to monetize their collections.

The geographical markets served by the company extend beyond domestic boundaries, targeting international collectors and art aficionados, enhancing its global reach in the art auction space. The revenue generation model for Yidian Wangpai is primarily driven by transaction fees associated with the art auctions conducted on its platform. Clients, including individual sellers and art dealers, list their artwork for auction, incurring fees based on the final sale price of the items. This structure emphasizes a B2C model, where customers directly interact with the company to purchase art pieces.

Each successful transaction contributes to the firm's overall revenue, aligning the company’s interests with its users by promoting a fluid and engaging auction process. The platform utilizes various pricing tiers for different levels of service, ensuring that both high-value artwork and more accessible pieces can find their audience within the auction framework. Yijian Diancang plans to further enhance its platform by developing new features and services aimed at improving user experience, with expected launches in 2024. The company aims to expand its market presence internationally, specifically targeting European and North American art collectors by the end of 2025.

The recent funding round will be utilized to support these growth initiatives, focusing on technology enhancements and market entry strategies.