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Leading O2O home services platform 1Jiajie to go public in China

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Chinese on demand home services platform ‘1Jiajie’ announced on Monday that it will list on the Chinese stock market New Third Board, and will launch a new cleaning service for companies, reports NetEase Tech on Tuesday.

On Monday, the General Manager of the Business Innovation Division of TF Securities said TF would continue to lead the next round of financing for 1Jiajie.

Yun Tao, CEO of 1Jiajie said the new round of financing would be used for marketing, expanding new services, recruitment and penetrating into more cities. Last December, the platform completed its Series C financing led by TF Securities, with participation from CDH Fund and DT Capital Partners.

Founded in April 2012, 1Jiajie, means ‘a clean home’ in English. Its services for individuals and families cover hourly home cleaning, furnishing, Japanese style room-organizing and appliance maintenance.

The platform claims it received an average of 30,000 orders every day till December 2015, and had over 10,000 employees serving in 25 Chinese cities.

1Jiajie has operated at a net loss since founding, during which the net loss of the first seven months of 2015 amounted to RMB 29.97 million(USD 4.6 million). In order to grow and maintain its market share, 1Jiajie didn’t charge cleaners or clients.

To generate a new source of income, 1Jiajie announced a cleaning service for company clients which has been in trial operation since October 2015 in five Chinese cities, including Beijing, Shanghai and Hangzhou.

During the trial operation, the platform served more than 10,000 companies and estimates it will sign 100,000 company clients by the end of 2016, according to interior operational estimates.

Yun explains that the new service will mainly target companies which occupy 200 to 500 square meters of office space. The new service will become an important source of income for the platform, as it will take a 10% commision from cleaners.

1Jiajie’s biggest rival 58 Daojia, backed by classifieds giant, 58 Ganji, has also launched a service for company clients, covering property management, food distribution, security and facilities management services.

(Top photo from Baidu Images)

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