Capital Today, New Horizon lead $100m round for Beibei

The investment values the start-up at about $1 billion, according to an announcement.

Beibei is owned and operated by Husor. It also runs another flash sales platform called Mizhe, which received a Series A round from IDG in 2012. Husor launched Beibei in April and soon received RMB150 million ($24 million) from Banyan Capital and IDG.

BeiBei works with more than 5,000 maternity brands, including Bobdog, Balabala, Disney and HelloKitty, with more than 10 million registered users. Over 70% of sales are transacted via mobile devices.

The new capital will be used to improve customer service, enabling users to ask for reimbursement from insurance firms if they buy fake items from the platform. About RMB100 million will go towards forming business relationships with kids wear manufacturers to build online brands. Overseas expansion is also on the agenda.

"One of Capital Today's core investment criteria is whether the company could be the leader in its industry," Kathy Xu, founder of the firm, said in a press conference. "In terms of founder's insights, long term vision and execution, Beibei is very competitive."

Maternity and childcare products represent a popular e-commerce vertical in China. In December, H Capital led a Series C round worth $60 million for Beijing Huawang Online Commerce, which operates childcare-focused Chinese e-commerce platform Miyabaobei.com. Previously, Warburg Pincus backed Kidswant, an offline children's products retailer, while Lunar Capital acquired China Yeehoo Apparel.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Greater China
• Venture
• Consumer
• China
• TMT
• Venture
• Capital Today China Group Company
• New Horizon Capital
• Banyan Capital
• IDG Capital Partners
• Consumer