Chinese baby products website Beidian wins funding
Chinese maternal and child-care social-shopping site Beidian has attracted RMB860 million (US$126 million) in funding from leading investment firms.
Hillhouse, Xiang He and Sequoia Capital are among the high-profile funders backing the social commerce enterprise. The online retailer focuses primarily on trading in mother and infant goods as well as other daily-use products.
Any user can trade on the Beidian platform to sell and receive commissions from sales, with the opportunity to connect directly with suppliers and receive support for their marketing and distribution.
The site has more than 50 million registered users, predominantly housewives, 20 per cent of whom are active on a monthly basis. More than 100 million purchases are processed on the site per business quarter.