Venture-Backed Jiuxian.Com Gets Approval To List On China’s NEEQ

Beijing-based alcoholic beverage e-commerce company Jiuxian.com, backed by China Development Bank Capital Corporation Ltd. (CDB Capital), Rich Land Capital and Sequoia Capital, has received regulatory approval to list on China’s National Equities Exchange and Quotations (NEEQ).

In a securities filing, Jiuxian.com’s operator, Jiuxianwang E-Commerce Corporation, revealed that it recorded revenues of RMB1.578 billion and a loss of RMB231 million in 2014.

Its chairman is the largest shareholder with a 34.67% stake. Sequoia Capital holds a 7.27% stake. Chinese private equity firm Rich Land Capital owns 8.08%.

Founded in 2009, Jiuxian.com has previously completed six rounds of financing, raising a total of roughly RMB930 billion (US$150 million).

In July 2015, media reports stated that Jiuxian.com completed RMB500 million (US$80 million) in its seventh round of financing. But its prospectus did not mention any financing at this time.

In 2014, Jiuxian.com raised RMB300 million (US$48.8 million) series F financing led by China Development Bank Capital Corporation Ltd. (CDB Capital), and RMB260 million series E financing.

In 2013, it completed RMB165 million series D financing from investors including Rich Land Capital, Oriental Fortune Capital and Sequoia Capital.

In 2012, the company secured its series C round, raising RMB200 million from Rich Land Capital.

In 2011, it received tens of millions U.S. dollars series B funding from Oriental Fortune Capital and Sequoia Capital, as well as US$20 million series A funding from Guangzhou-based alcohol company Yuekeung Winery, according to information posted on its website.

Jiuxian.com claims to be the largest alcoholic beverage e-commerce company in China, providing high-grade wines for customers. It currently has numerous operation centers in Beijing, Shanghai, Guangzhou, Tianjin and Wuhan.

(Update on November 10, 2015: The company’s shares are officially listed on NEEQ on November 9, 2015.)

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