Rumor: Mogujie Lands USD 100 Mln in New Funding

DoNews, 5/22/14

According to an investment industry source, Chinese online shopping SNS site Mogujie is nearing completion of a new round of funding totaling more than USD 100 mln, raising the company's valuation to approximately USD 1 bln. Commenting on the matter, Mogujie has stated that its latest round of funding is moving ahead smoothly, but that the deal is not yet finalized. The company plans to publicize details of the funding after its completion.

Mogujie's transaction volume exceeded RMB 200 mln in March of this year. CEO Chen Qi expects that Mogujie transaction volume will exceed RMB 3 bln for the full year 2014.

Editor's Note: For more information on this topic, please see "Rumor: Alibaba to Take Stake in Mogujie," MD 11/19/13 issue.

Keywords: Internet funding valuation transaction volume Mogujie Chen Qi online shopping online shopping SNS B2C

Feedback

Sending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily