(Yicai Global) Oct. 13 -- Youshu, a reading service provider under Beijing Oneway Cloud Information Technology Co., has secured CNY80 million (USD12.12 million) in A-round financing, which will be invested in the promotion of offline reading, community operations and technical input, online news outlet 36kr reported today.

The firm's city-wide reading activities have achieved success in five cities in China so far, and have now been promoted countrywide.

Founded in December 2015, Youshu uses multiple platforms, including a mobile app, WeChat account, reader groups and live-streaming channel, to provide readers with book recommendations and premium content. The company also provides messaging services for readers. It has over 16 million users and 200,000 paid subscribers across all channels.

Youshu's main business income is derived from readers' payments, advertisements and e-commerce, and monthly revenue recently exceeded CNY5 million (USD757,500).