Sequoia-Backed Jumei.com Files For $400M IPO

Beijing-based Chinese cosmetics e-commerce retailer Jumei.com has filed an F-1 form with the U.S. Securities and Exchange Commission for an initial public offering, seeking to raise a maximum of US$400 million, according to a regulatory filing.

The IPO size is significantly less than the US$600 million previously reported by the media.

The filing did not specified how many shares the company is planning to sell, and at what price range.

Jumei.com previously received tens of millions U.S. dollars series A funding from Sequoia Capital and K2 Ventures in 2011.

According to the filing, Sequoia Capital and K2 Ventures own 18.7% and 10.3% of Jumei.com respectively. Xu Xiaoping, founder of Chinese seed fund Zhan Fund, owns 8.8% of the company as well.

It’s not clear if these shareholders are selling during the IPO.

Founded in 2010, Jumei.com sells luxury cosmetics brands such as Dior and Lancome, often through flash sales, via the web and its mobile apps.

Jumei.com says it is the No. 1 online retailer of beauty products in China with 10.5 million active customers.

Credit Suisse and Goldman Sachs are underwriting the IPO.

China Expert Network
 
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