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Childcare Portal Babytree Completes RMB 3 Bln Funding, Plans IPO
iHeima, 7/19/16
Beijing-based Zhongming Shiji Technology, operator of online childcare-focused vertical portal, e-commerce, and community platform Babytree, completed RMB 3 bln in new funding last month and has subsequently dismantled its variable interest entity (VIE) structure in order to list on China's A-shares or the Hong Kong Growth Enterprise Market, revealed Babytree chief operating officer Wei Xiaowei. Read More
SAIC: Less Than 60% of Online Goods in China Are Genuine
Beijing Times, 1/24/15
China's State Administration for Industry and Commerce (SAIC) has tested 92 batches of products sold online in the second half of 2014 and found that only 54 were genuine articles, equating to 58.7%. Read More
Online Shopping Rebate Firm 51Fanli Lands USD 20 Mln Series B
21st Century Business Herald, 5/28/14
Chinese online rebate and consumer directory website 51Fanli.com, operated by Shanghai Zhong Yan Information Technology, has landed USD 20 mln in second-round funding from SIG Asia Investment. Read More
Group Buy Firm Jumei Achieves Profitability
Tencent Tech, 3/08/13
Leo Chen, CEO of cosmetics vertical group buy site Jumei, said in a March 8 interview that Jumei achieved sales of RMB 2.5 bln in 2012, and predicts sales of RMB 6 bln to 10 bln for 2013. Read More
Jumei Records Over 2 Mln Registered Users
Business Times, 10/08/11
Leo Chen, CEO of Chinese cosmetics vertical group buy site Jumei, recently revealed that the company now has over 2 mln registered users, with over 400,000 active users daily. Read More
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