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Leyou Obtains Third-Round Funding

Beijing Times, 7/03/08

Hu Chao, CEO of domestic all-in-one childcare products side Leyou, announced yesterday that his company had received a total of USD 37 mln from Deutsche Bank and AsiaVest Partners in its third round of funding. Leyou will use the funds to open 100 direct-sales outlets in 10 major Chinese cities within a year. By 2013, the company intends to expand to 1000 direct-sales outlets in 100 cities, and to build logistical infrastructure in order to reduce costs.

Keywords: Hu Chao Leyou online childcare AsiaVest Deutsche Bank funding Internet third-round

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