DCM leads $75m round for China's Maimai

Chinese recruiting platform Zhaopin – which delisted from the New York Stock Exchange a few months ago – also joined the round as a strategic investor.

Maimai was launched in October 2013, several months before its US counterpart LinkedIn entered China through a joint venture – LinkedIn China – with Sequoia Capital and China Broadband Capital. With approximately 30 million registered users, Maimai serves as a platform for professionals to develop business contacts. It also organizes recruitment events and branding activities for Chinese corporates.

The company said it broke even in December 2016. It plans to go public in 2019, with a target market capitalization of $10 billion, Fan Li, Mainmai’s founder and CEO, said in a statement.

Morningside previously committed $5 million in a Series A round for Maimai in 2013, while IDG participated in a $20 million Series B round the following year. With the new funding, Maimai will improve its existing service offerings and expand into the education and career training segments, with a view to further monetizing its user base.

 

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• Topics
• Greater China
• Technology
• Expansion
• China
• TMT
• Venture
• DCM-Doll Capital Management
• Morningside Technologies
• IDG Capital Partners
• Growth capital