www.womai.com made the news release on its round B of financing at COFCO Fortune Building on August 1, 2014. COFCO, IDG Capital and SAIF Partners made the joint announcement that www.womai.com completed the round B of financing. It is the first investment of IDG Capital and the second investment of SAIF Partners in the website. COFCO Corporation is still the largest shareholder.
As Mr. Frank Ning, Chairman of COFCO, said, www.womai.com followed the market rule and adopted the win-win model. Diversified investment was instrumental to improving management and operation efficiency. This round of investment was made to enhance competitive advantages in direct purchase from overseas, the supply chain and the cold chain logistics. The website was doing its best to become the best brand in the food e-commerce industry.
IDG Capital is one of the earliest international investment funds testing water in China. It has made investment in over 300 enterprises in China since 1992, including Baidu, Sohu, Tencent, www.ctrip.com, www.soufun.com, Mi cellphone, www.dangdang.com, etc. But this investment is its largest one in e-commerce, reflecting its optimism in e-commerce and confidence in the website featuring its background, growth model and strengths.
SAIF Partners is one of the largest investment funds in China. It made investment in SNDA, Digital China, UMS, www.58.com, etc. It made investment in www.womai.com by tens of millions of USD in 2013 and had deepened cooperation with the website in strategic planning, business development and capital operation.