Wine E-tailer Jiuxian Lands RMB 500 Mln Series G Funding
Iyiou.com, 7/29/15
Jiuxian E-commerce, operator of Chinese wine and spirits B2C e-commerce site Jiuxian.com, has announced the completion of RMB 500 mln Series G funding from Minxiang Caifu, as well as several other institutions and personal investors. The funding will be used primarily to expand Jiuxian's B2C market, develop its mobile wine delivery app Jiukuaidao, and provide customized internet services for alcohol brands. This funding puts Jiuxian's valuation at RMB 6.5 bln. After the completion of the funding, Jiuxian reportedly plans to go public on China's OTC-style agency share transfer system National Equities Exchange and Quotations (NEEQ).
Jiuxian currently owns e-commerce platform Jiuxian.com, mobile wine delivery app Jiukuaidao and Wine B2B e-commerce site Zhongniang.com. Jiuxian also helps alcohol brands expand business online and provides brand operation services. Jiuxian.com revealed in its Q3 2014 sales performance report that alcohol priced under RMB 200 made up 57% of all sales. Jiuxian.com primarily promotes mid- to low-end alcohol brands, according to an industry source.
Editor's Note: For more information on this topic, please see "Update: Jiuxian Plans IPO," MD 9/17/14 issue.
Keywords: funding seventh-round Minxiang Caifu VC e-commerce Internet IPO B2C Jiuxian alcohol National Equities Exchange and Quotations
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