We yesterday wrote about Lashou, the Chinese daily deal site, filing with SEC to withdraw its IPO plan, citing “focus on corporate development”. Niu Lihua, VP of the company, said yesterday it’s the best decision for the company, staff and shareholders both at present and in the future.
What else she also said? Local news broke that Niu didn’t rule out the possibility of a perspective initial public offering for the company if market turns around in the future. She also claimed Lashou enjoys the highest cash reserve among all peers with no less than RMB 500 million at hand.
While refused to disclose the exact number Lashou pocketed every month, Niu did mention that the revenue range is between RMB 200 and 300 million monthly.
Meituan claims to turn profitable by year’s end. Niu was thinking of the same for Lashou as well. She revealed that as of now two thirds of Lashou’s city branches are making money while Lashou as a whole has broken even. “We believe that all our city branches will be making a profit at the end of this year”, she said.
According to Tuan800, Lashou dropped out of the the Top Three in terms of monthly sales in April. Lashou fell to the fourth spot with a sales of RMB 194.07 million in April. Meituan, 55tuan and DianpingTuan made it to the Top Three with transactions of RMB 303.61 million, 264.73 million and 216.16 million respectively.