Chinese e-commerce platform Beibei.com said in Beijing on Thursday that it had landed USD 100 million in Series D funding.
This round of funding was led by investors including New Horizon and Northern Light Venture Capital, and followed by Banyan Capital and Capital Today. The founder and CEO of Beibei.com Zhang Lianglun said in the press conference that this funding will be used in improving their supply chains and consumer experience, as well as developing new business.
Beibei.com was founded in April 2014. It sells authentic products of domestic and international brands for babies and mothers at discount prices, including baby clothes, milk powder and maternity clothes.
Beibei.com has landed USD 100 million in Series C funding from investors including IDG, bringing its valuation to USD one billion. Its funding team is mainly from Alibaba, and Zhang himself was formerly a senior manager for Alibaba.
Beibei.com said in the conference they currently have over 50 million users, and their sales in 2015 reached RMB four billion (USD 600 million).
Zhang said Beibei.com will add more items, including household products and clothes for the general population in 2016.
(Top photo from xm.ifeng.com)