Online Shopping Reward Firm Obtains First-Round Funding
Netease Tech, 5/14/12
Online shopping reward points platform Duogou.cn announced today that it has received USD 20 mln in first-round funding from Harlyn Capital and Beijing Jiazi Haihui Holdings.
Duogou CEO Jiang Zijie said that the funds would be used successively for logistics and warehousing platform development, the establishment of a Duogou Business Institute, the construction of Beijing headquarters, and investment in channel promotions and marketing.
Duogou.cn launched in January 2011. The site offers shopping reward points (typically 10% of sale price) for mid-sized and small offline stores, allowing customers to receive Duogou points when making purchases at these stores. The points are redeemable for products and services offered through Duogou.cn.
Jiang said that Duogou currently has 1,197 store partners around China, and 230,000 Duogou card-holders. Duogou reward points are redeemable for more than 7,000 different kinds of products in 12 categories.
Keywords: Harlyn Jiazi Haihui Duogou Jiang Zijie Internet funding first-round reward
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