Vipshop Leads $100M Series C In Lamabang.Com

Shenzhen-based maternal and infant social networking platform has completed US$100 million series C financing led by online shopping site Vipshop, according to a company announcement.

The round values the company at US$1 billion.

Matrix Partners China, Greenwoods Asset Management Limited, and Morningside Ventures also participated in the financing.

In July 2014, the company received US$20 million in series B financing led by Greenwoods Asset Management, with participation from Morningside Ventures, Matrix Partners and K2 Ventures.

Lamabang previously received several millions U.S. dollar series A financing led by Morningside Ventures, Matrix Partners and K2 Ventures last August.

In 2012, it received several millions RMB angel investment from K2 Ventures.

Founded in 2012, Lmbang is a mobile app social networking platform for moms, where they can share and communicate the life and growth of their babies.

By the end of last June, Lmbang has more than 20 million registered users and 2.6 million daily active users.

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Nina Xiang is the co-founder and managing editor overseeing editorial content and product development at CMN. Before founding CMN in 2011, Nina worked at BusinessWeek magazine in Beijing and Institutional Investor magazine in New York, writing about business and financial services. While in New York, she also served as part-time correspondent for Shanghai's financial television channel, China Business Network, as well as China Radio International, China's national English-language radio network.