Business Intelligence on Retailing, Franchising, and Consumerism in China

Chinese Restaurant Website Company Closes USD60 Million Funding

Chinese lifestyle and restaurant information listings website has confirmed to local media that the company has completed its latest round of financing of USD60 million.

Without disclosing the investment parties, the company said the funding will be used in its mobile Internet and group buying sectors, as well as its new business expansion.

This is reportedly the fourth-round of financing for the company. In January 2006, gained investment from Sequoia Capital in its first-round financing; in May 2007, Google invested in the company; in April 2011, received total investments of USD100 million from EZCapital, Sequoia Capital, Qiming Venture Partners, and Lightspeed Venture Partners

Statistics published by the company showed that by the end of the second quarter of 2012, had gained over 48 million active users on a monthly basis, and its independent mobile client users reached 40 million. The website's monthly comprehensive views reached nearly one billion. In addition, its group buying business maintained a double-digit growth month-over-month.

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