The new business model that has been dubbed “social e-commerce” is having its moment in the limelight.
Beidian said on Wednesday that it had raised Rmb860 million $127 million from investors that include Hillhouse Capital, Sequoia Capital, Xiang He Capital, Sinovation Ventures, IDG Capital, Gaorong Capital, and Capital Today.
The most recent fundraising was Beidian’s $70 million Series B round which was led by Hillhouse, according to a document seen by FinanceAsia. Beidian completed another round of funding earlier this year and the two together total $127 million, according to a source familiar with the matter.
As an e-commerce site, Beidian...