Orchid, TPG lead $110m Series C for China's Duiba
Orchid Asia and TPG Capital have led a $110 million Series C round for Duiba, a Chinese enterprise services company that specializes in marketing and user engagement programs.
Duiba, which was founded in 2014, operates software-as-a-service (SaaS) and interactive advertising platforms. It claims to have established a network of 10,000 mobile app developers that contribute to marketing and user acquisition tools. These solutions have reached more than one billion mobile internet users on behalf of customers such as iQiyi, Sina Weibo, Ele.me, and Baidu Maps.
Typical projects involve the use of game-based marketing initiatives whereby user activity is rewarded through a points system and points can be exchanged for prizes. It takes a similar approach with customized check-in mechanisms for apps, rewarding users based on the frequency of their visits.
These services are supported by an analytics service that offers insights into customer behavior and characteristics, as well as tools for managing products, orders, and data. In addition to internet companies, Duiba has customers in catering, retail, real estate, food and beverage, and health and beauty, including Watsons, Gome, FAW, Visa and China Merchants Bank.
Xiaoling Chen, Duiba’s founder and CEO, said in a statement that the investment proceeds would go towards technology improvements, market expansion, and new business R&D. According to AVCJ Research, previous investors in Duiba include Cowin Capital, Yunyi Investment, and Shenzhen Qianhai Guotai No.1 Investment Management.
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