Troubled Jumei doubles down on Ankerbox amid shareholder turmoil

Chinese beauty products e-commerce platform Jumei announced today it has fully acquired power bank rental company Ankerbox. The deal comes three months after the online retailer acquired a controlling 60& stake in the company for RMB 300 million ($45 million).

However, it seems that this isn’t a good time for Jumei to make huge exterior investments of this size given its own troubles caused by sliding performance.

Jumei’s investor Heng Ren Partners made public an open letter this Tuesday, firing shots directly at the company for full responsibility for the debacle over the past 18 months. To the benefit of investors, the firm asked Jumei to distribute a special dividend of $1.50 per share, which would total $225 million.

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