Alibaba-Backed Chinese Online KOL Incubator Ruhnn Raises $125M In US IPO

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One of the most influential online celebrities supported by Chinese KOL incubator Ruhnn is Zhang Dayi, who has over 10 million followers on Chinese microblogging website Sina Weibo as of April 4, 2019.

Ruhnn Holding Ltd, a Chinese online celebrity incubator backed by the country’s e-commerce giant Alibaba, has raised US$125 million in a downsized initial public offering (IPO) on the Nasdaq on late Wednesday.

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