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Rumor: Social eCommerce & Pinterest-like Service Mogujie Acquired by Taobao
Mogujie, the Hangzhou-based leading Chinese social ecommerce site and Pinterest-like service is rumored to be acquired by Taobao, according to a VC friend. She said the deal has almost been closed and the valuation of Mogujie is unknown.
Mogujie is growing amazing fast. According the infographic released by Mogujie back in March this year,
Mogujie has reached ~2.2 million UV per day and ~9.5 millions registered users. It drives 750k UV traffic to Taobao daily and generates average ~60k transactions daily on Taobao.
Also according to a spokesman from Taobao affiliation program, he said, Mogujie now can earn rmb ~100k commission fee from the transactions. And, Mogujie also confirmed that every month it can generate rmb ~160million turnover on Taobao.
I always think Mogujie will be acquired (or strategically invested) by Taobao one day, as its current social ecommerce model heavily replies on Taobao and its founders and angel investor are all ex-Taobao staff. But I did not expect the deal came this quick. So how much does Taobao valuate Mogujie? We may see an shocking figure.
Another question is that how Taobao is going to do with its several Pinterest like sites, such as Taobao WOW? Mergied into Mogujie or just leave them with focus on different vertical markets, maybe?