PE, Alibaba-backed Baozun to list in the US

The company has yet to indicate how many shares it plans to sell or at what prices.

Founded in 2007, Baozun helps clients design and operate e-commerce platforms, including IT infrastructure, customer services, digital marketing, and warehousing and logistics services. Baozun had about 20% market share by transaction value last year in China, according to iResearch Consulting. As of the end of last year, it worked with 93 global brands, including Philips, Nike, Microsoft and Haagen-Dazs.

The firm has received several rounds of funding from strategic and PE investors. According to a regulatory filing, in 2010, Hangzhou Ali Venture Investment, a VC subsidiary owned by Alibaba Group founders Jack Ma and Simon Xie, invested RMB32.7 million ($5.3 million).

The following year, Crescent and New Access Capital committed RMB119.1 million, while Hangzhou Ali added to its stake for RMB12.9 million. In September 2012, Baozun raised RMB266.2 million from Goldman Sachs, Sino-Israeli private equity firm Infinity Group, as well as existing investors Hangzhou Ali, Crescent and New Access Capital. Last year, Baozun secured $23.9 million from SoftBank.

Alibaba Investment, a wholly-owned unit of Alibaba, is Baozun's largest investor with a 23.5% stake, while Crescent has 23.1%. SoftBank and Goldman own 17.8% and 9.8%, respectively. Infinity Group holds 6.6% of the company.

Baozun has yet to make a profit. It reported a net loss of $25.09 million on total revenue of $255.4 million last year, compared to a $16 million of net loss and renveue of $245 million in 2013.

 

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• Topics
• Greater China
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• China
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• Alibaba Group
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