Yunji, a startup that enables social commerce via WeChat, files for $200M US IPO

techcrunch.com

Last year we talked about the meteoric rise of Pinduoduo, a Chinese shopping platform started by an ex-Google engineer that went public raising $1.6bn on a $30bn valuation just 3 years after founding. Now another Chinese e-commerce site, started the same year as Pinduoduo just filed to go public, looking to raise $200m in an IPO. Unlike Pinduoduo however, which is focused on ad sales (like Alibaba's marketplace), Yunji generates revenue from selling direct to consumer (similar to JD.com).  7.4 million members who contributed 11.9% of its annual revenues and 66.4% of annual transactions - influencer marketing at work!

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