The Singapore-based digital media compay, Yummi Media Group (Yummi) has entered into an exclusive licensing and partnership agreement with China's Wanda cinema theater chain, reputedly the world's largest chain of movie houses.
A press statement by the digital media company said the agreement involves Wanda using its new mobile app, WeDong, which allows moviegoers to experience films and other content by way of cineme.
Interact and Engage
The press statement said the app had been developed on PHONIX,Yummi's proprietary platform.
The platform enables moviegoers' interaction and engagement with content without need for cellular or Wifi connections.
It said Yummi had secured US$ 40 million in funding from PT Tan, chairman of the Singapore-listed Falcon Energy Group and much of this funding had been channeled to the development of PHONIX.
The agreement with Wanda comes in the wake of earlier strategic partnerships entered into with digital media companies and other firms in various countries. Yummi is slated for an IPO in 2016 either in Asia or the US, according to the press statement.
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