Saif invests $30m in China fashion platform
Saif Partners China has committed $30 million in a Series C round of funding for Yoho, an online fashion magazine and e-commerce platform.
According to AVCJ Research, CDH Venture, Bertelsmann Asia Investments and Vertex Venture have previously invested in the firm.
The proceeds will be used for developing its e-commerce website Yohobuy and online media business.
Founded in 2005, Yoho started out by launching a fashion magazine. Three years after, it extended the company's service from paper-based magazine to online community and e-commerce website.
The online platfrom currently has approximately 5 million users, with core users range between 16-28 years old. It generated more than RMB500 million ($83 million) revenue last year, with net profit about RMB40 million.
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