Maternity Healthcare Platform Lamabang to Complete Series D, Plans IPO
36Kr.com, 8/05/16
Shenzhen-based mobile app developer Wangzhi Technology, operator of maternity-focused SNS Lamabang, has revealed that it will complete Series D funding and dismantle its variable interest entity (VIE) structure sometime this month. The company says that it will be moving forward with plans to IPO once this funding round has finished.
Lamabang, which has both a website and mobile app, provides maternity-focused information and articles for both expectant and new mothers. Users can consult with the platform's experts by sending them messages and images, as well as contributing posts and participating in forum discussions. The platform also has its own e-commerce channel which sells products for both mothers and infants.
Lamabang currently has 60 mln users, with 15 mln of those active on a monthly basis. In addition to the platform, Wangzhi Technology also operates Yunqi Banlv, a healthcare management app which, among other things, allows both expectant and new mothers to record their weight and their baby's height and weight, store photographs, and view videos and other educational content about healthcare for babies. The app also allows users to directly access and make purchases from Lamabang's e-commerce channel.
Wangzhi Technology, founded in April 2004, raised USD 100 mln in Series C funding in March last year.
Editor's Note: Although Lamabang did not explicitly say on which bourse the company hopes to IPO, the fact that it is dismantling its VIE structure suggests it will list on a domestic Chinese exchange. For more information on this topic, please see "Maternity SNS App Lamabang Pockets USD 100 Mln Series C," MD 3/06/15 issue.
Keywords: mobile childcare Yunqi Banlv e-commerce Internet IPO funding Series D Wangzhi Lamabang online childcare
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