Davdian.com, an e-commerce plaftform for mothers, finished a round of Series B+ financing worth tens of millions of dollars, the company’s CEO Wu Fanghua announced at a press conference on Monday.
AllChinaTech reached out to Davdian.com, but further details on the exact amount of financing have not been disclosed.
This round of financing was led by Steamboat Ventures, the VC arm of the Walt Disney Company, followed by LGT, the largest private banking and asset management group in the world, and Lightspeed China Partners, a Chinese VC firm focusing on start-ups.
Wu said at the press conference that this round of financing will be used to improve the “Mama Ketang” section and continue the “Mama+U” plan of Davdian.com. In the Mama Ketang section, or “lessons for mothers” in English, mothers can read articles and watch videos provided by professionals in order to gain child-rearing knowledge. Mama+U, or “Mom, come on” in English, refers to the website’s plan to attract more partners that will provide assistance for mothers through the website.
According to Wu, the company will also use this round of financing to improve the user’s experience by enhancing their warehousing, logistics and customer services, and to improve team building.
Launched in December 2014 by its parent company MAMA+, Davdian.com is an e-commerce platform combined with community services. The main products online include baby products and children’s picture books which account for 50% of their online products. Mothers can not only buy these products online but can also start their own business on the website by paying the company a membership fee. Additionally, there are communities for users to communicate and to learn, including Mama Ketang. The company launched its app in December 2015.
The company now has more than one million users and 500,000 visitors every day, and its monthly sales have topped RMB 50 million (USD 7.7 million), Wu said at the conference.
(Top photo from edu.online.sh.cn.)