Lashou Wins USD 50 Mln in Second-Round VC Funding

Sina Tech, 12/02/10

Chinese group buying site Lashou has obtained USD 50 mln in second-round VC funding, attracting investment from Tenaya Venture and Norwest Venture Partners, in addition to first-round investors GSR Ventures and Rebate Network.

Prior to this round of funding, Lashou had raised a total of USD 10 mln from Taishan Invest AG, Chinese Founders Fund (CFF), Rebate Network and GSR Ventures. With the addition of this second-round funding of USD 50 mln, the company's total post-money valuation is now in the hundreds of millions of US dollars.

Editor's Note: The USD 10 mln raised prior to the new, second-round funding consists of USD 5 mln in first-round funding and an additional USD 5 mln in the form of an interest-free loan provided collectively by the first-round investors. For more background on this topic, please see "Lashou Gets USD 5 Mln Loan from Current Investors," MD 6/17/10 issue.

Keywords: Chinese Founders Fund Tenaya Venture Rebate Network Internet VC GSR Ventures Norwest Venture Partners second-round Lashou group buying Taishan Invest AG e-commerce

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