Shanghai Yitiao Network Technology Co., Ltd. announced that it has received funding from JD.com, Inc., MagiCapital Group Limited, TrustBridge Partners
January 21, 2018
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Shanghai Yitiao Network Technology Co., Ltd. announced that it has received funding in series C+ co-led by new investors JD.com, Inc. (NasdaqGS:JD) and MagiCapital Group Limited on January 22, 2018. The transaction also included participation from existing invetsor TrustBridge Partners. The round was raised at a post-money valuation of $500,000,000.
JD.com, Inc. is the No. 2 Chinese consumer Internet sales platform. In parallel to this activity, the group has developed a marketplace to connect third-party sellers with customers. Net sales break down by activity as follows:
- sale of products (85.7%): consumer electronic goods and electrical household goods (60.4% of net sales; computers and peripherals, digital products, mobile phones, TVs, players, loudspeakers, cameras, digital video cameras, games consoles, etc.) and other (39.6%; clothing and accessories, household goods, luxury products, home accessories, personal beauty products, cosmetics, food, media products, leisure goods, sports equipment, etc.);
- services (14.3%).
JD.COM, INC. 
