Beijing-based JJ Capital raised $15 million in Series A financing for 55Haitao.com, a forum and shopping guide for Chinese cross-border shoppers. 55Haitao is based in Pasadena, California with offices in Shanghai and Chongqing China.
PASADENA, Calif., Feb. 26, 2016 /PRNewswire/ — 55Haitao.com, China’s largest forum and shopping guide for Chinese cross-border shoppers has raised $15 million in a series A financing round led by Beijing-based venture capital JJ Capital (竞技创投). 55Haitao is based in Pasadena, California with offices in Shanghai and Chongqing China.
55Haitao has achieved amazing growth since launching in 2011. More than 3,500 global e-retailers, including Amazon.com, Drugstore.com, GNC.com and Ashford.com all work closely with 55Haitao to provide content tailored to Chinese consumers. “Global e-retailers receive 5,000 to 10,000 orders every day from 55haitao.com and we generated over $150 million in sales via 55haitao in 2015,” Alan Gu, 55haitao.com’s founder and CEO says.
“The additional capital will continue to fuel our growing editorial content initiatives for 55Haitao,” said Rick Parada, the managing director of 55haitao. A portion of the capital will also allow the site to expand operations in their sub-affiliate business, Linkhaitao.com. This section of the business helps global e-tailers expand further into China with localized content.
About: 55Haitao is China’s largest forum and shopping guide for Chinese cross-border shoppers. Founded by Alan Gu, 55Haitao.com creates and publishes unique Chinese deal content on their blog feed and in their forum where more than 20,000 user-generated posts are created daily. With 90% of its traffic originating from China, 55Haitao helps retailers worldwide reach a Chinese audience easily. 55Haitao also recently introduced Linkhaitao.com, a sub-affiliate network that allows US companies to incentivize over 3,000 Chinese bloggers and key opinion leaders to create localized content, greatly expanding these companies’ reach into China.