China parenting site Beibei raises further $100m
Beibei, a Chinese maternal and infant products e-commerce platform, has raised $100 million in a new round of funding led by existing investors Northern Light Venture Capital (NLVC) and New Horizon Capital.
Banyan Capital and Capital Today also participated, the company told a press conference in Beijing.
Launched in April 2014, Beibei is owned and operated by Husor. The company works with more than 5,000 maternity and baby product brands, selling their items on the Beibei website at discounted prices. The platform has more than 50 million registered users and generated RMB4 billion ($607 million) in annual gross merchandise value (GMV) last year.
AVCJ Research records show that Beibei received $24 million from Banyan and IDG Capital Partners in August 2014. Last year, it raised a $100 million round from Capital Today and New Horizon.
Beibei will use the new capital to develop its own supply chains, improve user experience and diversify into other e-commerce verticals, such as apparel and home accessories.
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