Sina Tech, 4/25/11
Chinese online cosmetics retailer Tiantian.com has obtained a new round of USD funding in the eight-figure range, according to an industry insider, with funding rumored to have come from the Softbank Asia Infrastructure Fund (SAIF).
The predecessor to Tiantian.com, Tiantian Gouwu (www.7shop24.com) website, was founded in 1999. In 2010, following the company's decision to make online retail cosmetics its core business sector, Tiantian went on to carry more than 400 different cosmetic brands.
The source also revealed that Tiantian.com plans to invest its latest round of funding in improving user experience, raising brand awareness and establishment of the company's logistics services.
Tiantian.com has tens of thousands of square meters of warehouse floorspace in Beijing, Shanghai and Guangzhou, and currently provides cash-on-delivery service to more than 1,000 cities across the country. Tiantian.com also recently released its "Hong Kong Street" shopping channel, and a beauty cosmetics news channel.