Sequoia Capital-Backed Jumei.com Plans $600M US IPO

Beijing-based Chinese cosmetics e-commerce retailer Jumei.com is planning a U.S. initial public offering, raising a total of around US$600 million, according to media reports.

The IPO values Jumei at above US$3 billion, and may be launched during the first half of this year.

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

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.

Credit Suisse and Goldman Sachs are underwriting the IPO.

 

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