Internet star Papi Jiang secures $2m investment

According to The Online Celebrity List 2015 released by China Internet Weekly in early March, Papi Jiang ranks only second to Wang Sicong, son of Wang Jianlin, China's richest man and chairman of mainland property and entertainment conglomerate Wanda Group.

Papi Jiang has been called the first online celebrity in 2016 by netizens, but she doesn't identify with that label.

Speaking of online celebrity, people think of mold carved beauties - big eyes, small mouth and sharp chin. Their daily life is about shopping, taking selfies and posting them online. They are models, photographers or fashion designers. And the most important thing is that they have online stores on Taobao.com, China's largest customer-to-customer online shopping platform.

The online celebrities are building up a new economic driving force. They are turning the love of their fans into money.

Cyberstar Cherie, who has been linked to Wang Sicong, has 1.44 million fans on her Weibo account. She posts selfies with new clothes and sells them in her Taobao online store. According to a report by Guotai Junan Securities Co, a major investment bank, Cherie is estimated to earn RMB150 million a year.

"We have been talking about Internet economy and fans economy, but a new group of people are surfacing on Taobao platform. They are what we called the online celebrity. They are a reflection of new economic force," said Alibaba CEO Zhang Yong at the World Internet Conference last year.

Compared with traditional online celebrities who cash in on their beauty, Papi Jiang earns her success by talent, humor and sensitivity of hot issues.

On Monday morning, investor Luoji Siwei announced detailed cooperation with Papi Jiang. They are going to do the first ad auction in China's new media circle.