Capital Today Leads Series B In Mobile E-Commerce Firm Daling

Chinese private equity firm Capital Today, which achieved an over hundredfold return on its investment in Chinese e-commerce platform, has led an undisclosed series B financing round for Beijing-based mobile e-commerce firm Daling, according to information posted on Daling’s website.

IDG Capital and Sequoia Capital also participated in the round.

The company says it will use the proceeds on building up its overseas supply chain and improving user experience.

In this year’s 24-hour online shopping festival celebrated on November 11, about 42.6% of Alibaba Group Holding’s US$9.3 billion gross merchandise volume on that day was conducted on mobile devices, up 450% compared to last year’s gross merchandise volume purchased on mobile devices.

The exponential growth has attracted great investor interests in mobile e-commerce start-ups. In October, another mobile e-commerce platform KouDai received US$350 million series C financing led by Chinese Internet giant Tencent Holdings Limited.

Launched several months ago, Daling’s platform focuses on bringing authentic fashionable and popular products from overseas to young Chinese consumers.

Capital Today, founded by former Baring Private Equity senior executive Kathy Xu in 2005, started to invest in in 2007.

Its original investment of around US$30 million is now worth over US$3 billion after completed a US$1.78 billion IPO on the NASDAQ in May.’s share price continues to climb, and now trades around US$25 per share, compared to its IPO price of US$19 apiece.

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