BeiBei is a maternal and infant supplies e-commerce platform based in Hangzhou, China. Launched just 9 months ago, BeiBei is now valued at $1 billion and will put the new cash toward improving customer service and developing its brand.
The site sells a wide range of clothing, accessories, toys, and diapers. It has a special section just for overseas products for parents who don’t trust goods made in China, along with a handful of daily deal flash sales. CEO Zhang Lianglun says Beibei now has 5,000 brands, 10 million registered users, RMB 200 million in monthly sales, and 100,000 items sold daily. 70 percent of orders come from mobile devices.
Beibei claims its valuation now stands at US$1 billion, adding it to China’s growing list of unicorns. That also indicates it sold a 10 percent stake in return for this latest investment.