Get the free version of Marbridge Daily delivered to your inbox

Click here to subscribe

Online Rebate Site 51Fanli Lands USD 8-Digit Funding

Tencent Tech, 7/26/11

Chinese online rebate and consumer directory website 51Fanli.com, operated by Shanghai Zhong Yan Information Technology, has obtained eight-digit first-round USD funding jointly led by Qiming Venture Partners and Disney's venture capital firm, Steamboat Ventures. 51Fanli founder and CEO Gary Ge said that this round of funding will mainly be directed toward recruitment and market development.

According to information released by the site, 51Fanli currently has more than 2.5 mln registered users and nearly 400 member vendors, including B2C e-commerce sites 360Buy, Dangdang (NYSE: DANG), Vancl, Yihaodian, Meituan and Taobao. The site currently processes more than 1.2 mln orders worth nearly RMB 200 mln each month.

51fanli, founded in 2006, is an online shopping directory platform offering users shopping rebates. In addition to rebates, the site issues discount vouchers and provides price comparisons, vendor ratings, a single account log-in feature that allows users to enter participating sites using their 51Fanli credentials, and online shopper discussion forums.

Keywords: 51Fanli Gary Ge e-commerce Internet funding B2C first-round Qiming registered users Steamboat Ventures transaction volume online shopping rebate

Feedback

Please note, all fields are required.
None of your personal information will be shared with third parties.

SendingSending

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 Premium

Interested in gaining full access to all newsletter articles and the Marbridge Daily archive? To learn more about premium subscription options, including pricing, please:

Click here

Marbridge Consulting RSS Feed

Marbridge Reports