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Mizhe.com Completes Round B Financing of US$30M

By , Entrepreneur China
Updated: 2014-06-03 13:36:27

According to news on June 3, shopping guide and rebate website Mizhe.com officially announced to complete its Round B financing. It gained US$30M investment from IDG Capital, a globally leading venture capital firm, and Banyan Fund. According to data, Mizhe.com is China’s first shopping guide and rebate website which has completed Round B financing and the website that has raised the largest amount of capital in the industry up to now.

It’s learnt that, founded in 2011, the founding team of Mizhe.com mainly comes from Alibaba. The website made its first fortune by providing rebate service for purchasers on Taobao.com and is among the rebate websites with fastest development in recent years. In 2013, Mizhe.com conducted significant strategic transition and gradually became a comprehensive and one-stop platform for online shopping rebate. Currently, its rebate business occupies some 40% of its sales, and other businesses including goods on promotion, discount coupon and valuable and goods beyond selling value contribute most of the remaining sales.

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