Witkey Site Zhubajie Lands RMB 2.6 Bln Series C Funding

Yicai.com, 6/15/15

Chongqing-based "Witkey" crowdsourcing platform operator Zhubajie has secured RMB 2.6 bln Series C funding, with RMB 1.6 bln coming from Cybernaut Investment and RMB 1 bln from Chongqing New North Zone Government Investment Fund. The funding will be used for marketing, national distribution, and recruitment. Prior to this round of funding, Zhubajie.com terminated the 20% commission it previously charged.

Zhubajie launched in 2006 and completed RMB 5 mln Series A funding in 2007. In 2011, the company received USD 10 mln Series B funding from IDG Capital Partners. The site has over 13 mln registered users and a cumulative transaction volume of RMB 6.4 bln. Zhubajie has launched platforms for creative services, enterprise outsourcing, logo registration and copyright protection, part-time employment recruitment, and life services.

Editor's Note: For more information on this topic, please see "Zhubajie Lands USD 10 Mln in Second-Round Funding," MD 4/07/11 issue.

Keywords: witkey Internet funding Q&A Zhubajie Cybernaut third-round VC Cybernaut Chongqing New North Zone

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