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Online Gift Store Basha Wins RMB 8-Figure VC Funding

Cb.com.cn, 8/14/11

Chinese online gift store operator Beijing Basha Technology (Basha.com.cn) recently announced it has received eight-figure RMB funding from Sequoia Capital, Tsinghua Science Park Capital, and CID. Basha follows a B2B2C business model, selling gifts from major brands to corporate customers via set-value gift cards, and then providing delivery of the gift purchased to the intended recipient.

Basha has nearly 800 major corporate clients, including China Telecom (NYSE: CHA; 0728.HK), Inspur Group, and China Construction Bank. The company has grown to 200 employees.

Keywords: Basha e-commerce B2B B2C Internet funding VC business model CID Sequoia Capital Tsinghua Science Park Capital HR

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