A Grey Zone

Despite grey regulation, investors bet on social e-commerce

Beidian, one of China’s big three social e-commerce sites, has attracted Hillhouse Capital as a new investor.

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...

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