MANZUO.COM B-ROUND FINANCING TO USD80MN

AsiaInfo Services
06-29-2011
Manzuo.com B-round Financing to USD80mn

BEIJING, Jun 29, 2011 (SinoCast Daily Business Beat via COMTEX) -- Group purchase website www.manzuo.com , which takes three major measures such as mode innovation, product upgrade and brand building, is expected to win the B-round of financing of about USD 80 million.

An insider at the website disclosed that three venture capital firms are predicted to participate in the B-round of financing of USD 80 million of the website. www.manzuo.com CEO Feng Xiaofei said during an interview on June 28 that it is fundamental for a group purchase website to do well in user experience and brand building, adding that venture capital firms takes an optimistic outlook to the website thanks to three factors, the highest order conversion rate, the highest growth space for gross margin and the highest repeat purchase rate.

The CEO introduced that the number of existing users of the website has exceeded 8 million, including 80% repeat purchase users, and still keeps a growth momentum. The sales value hit CNY 70 million in May.

Source: www.chinanews.com.cn (June 29, 2011)

KEYWORD: BEIJING INDUSTRY KEYWORD: Internet & Online Services & Media SUBJECT CODE: Internet & Online Services
E-commerce
SinoCast China Business Daily news
financing
group purchase
VC
repeat purchase
sales value

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