Ule, an-ecommerce platform jointly established by state-backed China Post and TOM Group in 2010, reportedly secured $110 million of financing from unnamed investors at a valuation of $830 million (via Sina Tech).
After the investment, China Post’s stake in the joint venture reduced from 51% to 44.24%, but it is still the largest shareholder of Ule. TOM owns 42.51% stake in the company, down from 49% before the deal. The new investors will hold a combined 13.25% stake.
The website offers wide range of products including home goods, foods, infant and mother care, personal care, fashion and electronic goods etc. Ule has launched Youxnp, an e-commerce site for green agricultural products which target at high-end customers. It also has a dedicated channel for bulk purchase of government agencies and state-owned enterprises.
Start your free trial now.
Get instant access to all our premium content, archives, newsletters, and online community.
Monthly Membership
Yearly Membership
What you get
Full access to all premium content and our full archives
Members'-only newsletters
Preferential access and discounts to all TechNode events
Direct access to the TechNode newsroom
Start your free trial now.
Get instant access to all our premium content, archives, newsletters, and online community.