Chinese community group purchasing business receives $31m
Songshupinpin, a Chinese group purchasing platform that connects consumers in different residential districts with suppliers of daily necessities, has raised $31 million in the first tranche of a series B round led by Hillhouse Capital Group and MSA Capital.
Other participants include IDG Capital, Sky9 Capital and Jiawei Gan, the former COO of online-to-offline local services platform Meituan Dianping. All of the investors backed the company’s $30 million...
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