- WeChat Launched Voice Open Platform and Speech Recognition SDKPosted 5 days ago
- Running A Luxury Flash-Sale Site in China: Interview with Glamour Sales CEO Thibault VilletPosted 6 days ago
- [TechCrunch Shanghai] Chinese and Global App Economy Trends: App Annie VP Yu JundePosted 17 days ago
- [TechCrunch Shanghai] China Mobile Gaming Market, the Easy Market for Easy Money?Posted 17 days ago
- [TechCrunch Shanghai] How Did Changba Gain 100 Million Users in One YearPosted 18 days ago
Jingdong Mall Grabbed $400M Round at $7.25B Valuation
Local media broke (here and here) that JingDong Mall, the Chinese B2C giant has just completed a new US$ 400 million financing round which values the company at US$ 7.25 billion (another saying we heard is raising US$ 350 million at $7 billion valuation). Some of the investors in this round include OTPP (Ontario Teachers’ Pension Plan) and former participant the Tiger Fund.
Jingdong confirmed the financing, though didn’t mention any details.
It’s conceivable why it didn’t want attract too much exposure to the deal. In the company’s stunning Series C, it obtained US$ 1.5 billion at more than 10 billion valuation. Now with time flies, the company’s valuation also shrinks to only 7.25 billion.
Jingdong getting ready for an IPO was first brought into our attention in this June when the company was rumored to target getting listed by this September. However, volatile in capital market put the deal on hold.
Li Guoqing, CEO of Dangdang once made a personal and wild guess that 360buy was running out of cash. The thought was echoed by commonplace speculation that Jingdong was losing money quickly due to strings of price wars and fast expansion. In a nutshell, Jingdong has to raise the round to sustain its money-bleeding business. Industry insider put Jingdong’s loss rate at between 5.7% and 5.8%, or approx. US$ 480 million on 4.8 billion annual sales.
Series A Aug. 2007 10M CapitalToday
Series B 2009 21M CapitalToday, BULL CAPITAL PARTNERS, etc
Series C1 Jan. 2010 150M Tiger Fund, etc
Series C April, 2011 1.5B Tiger Fund, DST, etc
You may also Read: