DDMap, a local life service information provider, announced raising a new round of financing led by F&H Fund Management with undisclosed sum. The Shanghai-based company received US$ 5 million and 3 million from HTC in 2010 and 2011 respectively.
Xu Longjiang, CEO of DDMap said the funding would be used to enhance and accelerate the company’s mobile Internet business to produce a comprehensive online-to-offline life service platform. Also, the service will be operating in over 40 Chinese cities.
It’s mobile apps, which provides users with coupons and bus info and let people check into places for discount has amassed a user base of over 10 million since its debut in early January of last year.
Founded in 2005, DDMap with a slogan of “location base, local life” positioned itself as a LBS-enabled local life service platform. One of the company’s flagship products is its map service. Witnessing the thriving of mobile Internet and the prosperity of the O2O trend, DDMap leveraged on its expertise in location service to help people find coupons and deals around them.
On the other hand, DDMap is also proved to be of value to local merchants as the service helped them attract more customers at low or even no cost.
screenshot of DDMap Coupon app