Chinese e-commerce solution provider Baozun has filed for IPO on the NASDAQ under “BZUN” symbol, planning to raise US$200 million.
Alibaba Investment Ltd., the venture capital arm of Alibaba Group, has participated in three funding rounds for Baozun and now is its largest shareholder, with a 23.5% stake.
Baozun started off in 2007 helping brands manage their stores on Taobao and then other Chinese online marketplaces such as JD’s. Its end-to-end solutions include IT solutions, warehousing, delivery and logistics, customer services and digital marketing.
Baozun charges commissions based on gross merchandise volume, the number of orders fulfilled, or a pre-agreed formula, or service fees.
By 2014 Baozun had had 93 clients, many of which are global brands. The company claims, citing an report from market research firm iResearch, it has approximately 20% a market share in China in terms of transaction value in 2014.
LinkedIn plans to launch a professional networking service designed for China market in June, Derek Shen, the President of LinkedIn China, disclosed it at a LinkedIn event in Beijing.
Since the simplified Chinese version launched in February 2014, LinkedIn has added some five million Chinese users that brought the total number to nine million. LinkedIn China is funded by local venture capital firms CBC Capital, which is also an investor in Evernote China, and Sequoia Capital China.
Alibaba Health Information Technology, the healthcare arm of Alibaba Group, announced strategic cooperation with Jiangsu Yuwell Technology Development, a medical equipment manufacturer, on connected health devices, online healthcare services, among others.
China Mobile saw 53 million 4G user additions in the first quarter that it had had 143 million 4G users as of March. 3G users decreased 4% to 235 million.
The telco reported RMB16.1 billion in first-quarter revenues, a 4% increase, while the net income dropped 6%.
Drone maker XAIRCRAFT launched XPlanet, an agricultural drone. Founded in 2007, XAIRCRAFT has launched half a dozen products.
U51.com Inc., credit card management app developer, has secured US$50 million in Series B+ funding from Taichang Investment (our translation) which will hold a 14% stake in it after the deal completes, according to Taichang’s parent company Xinhu Zhongbao Co. (600208.SZ).
The funding will be used to develop its financial trading system, hire talent, etc.
Chemayi.com, a marketplace for auto services, announced US$20 million Series A funding led by KeyTone Ventures and joined by Morningside Ventures.
Chemayi enables users to submit requests and businesses to bid for orders through its website, iOS app or Android app. The company received US$2 million angel investment from Morningside Ventures in 2013. (via Sina Tech)
AMTT Group announced RMB200 million (about US$32 million) funding from unnamed investors. AMTT provides hotels with connectivity solutions, hotel automation solutions and interactive television systems.
Enterprise software solution developer Suntektech (600728.SH) and its venture capital arm Xinyu Zhuoan Investment (our translation) have invested RMB50 million (about US$8m) in facial recognition technology company Yuncong Technology (our translation) for a combined stake of 27%. (announcement in Chinese)