Last July, Babytree secured US$300 million led by the US-listed Chinese online cosmetic retailer Jumei
Leading parenting portal Babytree landed RMB3 billion (US$448 million) this June. The COO of Babytree, Wei Xiaowei, made the announcement this Tuesday. This latest round of financing is in RMB and not USD, indicating Babytree’s readiness to return to China’s capital markets.
“By returning to China’s capital markets, we’ll become an enterprise to be recognised by serving tens of millions of Chinese families, to be able to lead the industry with a clearer purpose,” said Wei.
In July last year, Babytree secured US$300 million led by the US-listed Chinese online cosmetic retailer Jumei. This March, the company was rumoured to be dissembling its VIE structure in the US, ready to go public in China before May. This turned out to be a rumour, and was dismissed by Babytree’s CEO Wang Huainan.
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Targetting pregnant women and those with babies under six years old, Babytree is a platform that not only runs e-commerce sectors, but also offers services ranging from early education to advertisement. According to Wei, Babytreee will next focus on healthcare and education.
Research firm Analysys International reported earlier this month that Babytree ranked first among all Chinese parenting apps in Q1 2016 in terms of daily active users, with an average of 91,984 new users per day on Android and 62,579 on iOS.
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Ke Jin is a writer at AllChinaTech. She graduated from the University of Edinburgh with a Master’s Degree in English and has worked on projects with Ipsos MORI and SDI Media. She’s particularly intrigued by China’s thriving technology scene and is eager to write about this flourishing industry. Feel free to email her at kim[at]allchinatech.com should you have any questions 🙂
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