Alibaba's Koubei Invests RMB 300 Mln in Food Delivery Platform SHBJ.com
DoNews, 8/28/15
Beijing-based Shenghuo Banjin Information Technology, operator of online and mobile food delivery platform SHBJ.com, recently received an RMB 300 mln investment from Alibaba Group (NYSE: BABA) subsidiary Koukou Xiangchuan Network Technology, operator of online and mobile local life service platform Koubei. Shenghuo Banjin founder Xu Weihao said that more detailed information regarding the investment would be forthcoming.
Shenghuo Banjin currently operates mainly as a food delivery service. Users can order meals on the company's website or mobile client and pay RMB 5 per delivery.
With nearly 2,000 employees and covering eleven cities presently, Shenghuo Banjin handles over 30,000 daily orders at an average of RMB 70 per order. The company plans to expand to 30 cities by the end of this year.
Shenghuo Banjin, established in 2010, won RMB 1 mln angel funding from Gobi Partners in 2012. While no information has been released regarding the company's Series A funding, it did win RMB 50 mln Series B funding in December 2014 from an unnamed investor.
According to industry insiders, this latest investment marks the beginnings of a close partnership between Koukou Xiangchuan and Shenghuo Banjin, leveraging the former's large traffic volume from Alibaba as well as the support it receives from third-party payment processor Alipay's payment and local life services, with the latter's logistics team and logistics scheduling technology.
Keywords: Shenghuo Banjin SHBJ.com Koukou Xiangchuan Xu Weihao M&A food O2O Internet funding Koubei Alibaba Group BABA
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