On the morning of June 28, sources from China Entrepreneur Magazine disclose that leading e-commerce platform Pinduoduo is rumored to be filing for an IPO at the U.S. Securities and Exchange Commission next week, with Goldman Sachs and China International Capital Corporation as the main underwriters.
With over 520 million monthly active users (MAU) and an accumulated user base of over 900 million in over 223 countries and regions, WiFi Master Key is an app that you may not have heard of or read about, but is perhaps the only platform with numbers that can compete with Tencent’s WeChat and QQ.
VIPKid, the online children education brand has confirmed completion of its Series D+ round of financing with relevant details disclosed.
The new retail coffee chain Luckin Coffee was rumored to have closed its Series A round at $200 to 300 million with a valuation exceeding $1 billion. The investors of this round has not been disclosed.
NIU has launched two all-new scooters, the M+ and N-GT in the Louvre Museum, Paris, on June 12. The scooters that have been specifically customized for the European market feature an enhanced riding experience with better safety aids.
Douyin, the most popular short-video platform, announced on June 12 that its number of domestic daily active users (DAU) has exceeded 150 million.
Byton’s K-Byte concept debuted in Shanghai on June 12, and Byton, the Beijing-based startup has announced its product naming strategy for the first time.
On the morning of June 11, Caixin.com revealed that, ofo, the Beijing-based bike-sharing platform, has a 1.5 billion yuan ($234.2 million) deficit with only 3.5 billion yuan left in user deposit.
Byton’s global headquarters officially opened in Nanjing on June 11, and announced the successful completion of their Series B round financing of up to $500 million on the same day.
Ant Financial Services Group announced today that they have raised approximately $14 billion in the Series C equity financing round, including a RMB tranche raised from Chinese investors by Ant Financial and a USD tranche from international investors by Ant International.
According to Chinese media reports, the popular live-streaming platform Douyu TV, is rumored to go public in Hong Kong next month at a valuation of $700 million.
Tiger Global Management has recently led Chinese long-term apartment leasing firm, Danke Apartment in a US$70 million series B+ funding round. This financing round comes three months after Danke managed to raise US$100 million in a B round led by CMC Capital and Gaorong Capital earlier this February.
Tencent-backed Chinese Internet giant Meituan-Dianping is seeking to go public in Hong Kong at an evaluation of $60 billion. According to The Information, it is reported that Wang Xing, CEO of Meituan, was in Hong Kong tapping several banks for listing details.
Radical personnel changes happened to ofo senior management including a massive layoff, according to Chinese media reports. Zhang Yanqi, COO of ofo reportedly resigned and the overseas sales department which he led was dissolved at the same time.
Xiaohongshu, translated into “Red” or “Little Red Book”, a shopping tip app gaining large popularity among Chinese millennials, just closed its $300 million Series D funding round led by Internet giant Alibaba Holding.