IDG Brings Series A Funding to China’s Mizhe.com
Earlier this week, IDG Capital Partners invested just over $1.6 million in a series A funding round for Mizhe.com. The website is one of China’s most unique with in their e-commerce market consisting of many other sites. This site is making a business out of being an online shopping guide that offers discounts for shoppers on top of Chinese e-tailers.
“The IDG backing was wrapped up last summer and the funds have already come through,” said Zhang Lianglun, Founder of Mizhe and former employee of e-commerce business, Alibaba.
Mizhe is a website emphasizing discounts in addition to China’s top e-commerce sites. Shoppers can receive offers up to 50 percent off of purchases, as well as find additional coupons at Miquan.com which is the Groupon.com of China. The site provides customers a user friendly shopping guide which devises from referral links to e-commerce sites such as Taobao, Amazon China, and many more.
By Pia Talwar