(Yicai Global) Dec. 15 -- Baibao New Media, an e-commerce platform that started as a maternity and infant content provider, recently said that it secured CNY140 million (USD2.12 million) in B-round funding in October to develop its business, online news outlet 36Kr reported.

Lafang China Co. [SHA:603630] and New Oriental Education & Technology Group Inc. [NYSE:EDU] backed Baibao New Media in that round.

Baibao New Media's core is a WeChat account called xxbmm. This WeChat public account focuses on parenting knowledge and maternity and child products.

Xxbmm's target demographic is unique and its users' information acquisition and purchase decisions are closely related, said cofounder Wang Ye. Xxbmm has rapidly grown into a leading mother-baby content provider with lower customer acquisition costs and an e-commerce business.

It has created a multifaceted new media outlet to attract different groups by leveraging its knowledge about pregnancy, newborn feeding, early childhood education since last year. It has also acted as an incubator for skin care and makeup freelancers.

Xxbmm has more than 5 million fans with monthly e-commerce turnover of more than CNY40 million. Baibao New Media has over 10 million fans with monthly e-commerce income of CNY70 million and is set to achieve gross e-commerce profit of about CNY100 million this year.