Furniture B2C Meilele Lands Second-Round Funding
Tencent T4ech, 6/01/12
Chinese furniture B2C e-commerce site Meilele.com announced today that it had received USD 40 mln in second-round funding. Vertex Venture Holdings, a subsidiary of Temasek Holdings, led the funding, with Lightspeed Partners, China Renaissance K2 Ventures, LionRock Capital, and KTB Ventures participating. China Renaissance K2 Ventures served as sole financial advisor for the new round of funding.
Meilele.com began in 2008 as a store on the Hangzhou-based C2C & B2C e-commerce site Taobao platform, later expanding to become its own independent website. As of May 2012, Meilele had more than 50 offline furniture stores, with monthly revenues of nearly RMB 100 mln. The company plans to open more than 100 offline furniture showcase stores in 2012, and expects to realize sales volumes of more than RMB 1 bln for the year.
Keywords: China Renaissance K2 Ventures LionRock KTB Ventures e-commerce Internet funding B2C second-round Temasek Vertex Meilele VC LightSpeed Venture Partners
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