IDG WeChat qr Code
Shuidi, a Beijing-based healthcare technology provider, completed a $144.5 million Series C financing round. Founded in 2016, Shuidi has raised more than $218 million in the last three months, setting a new funding record for China’s online insurance industry. In March, IDG Capital joined the firm’s $74 million Series B funding round. Shuidi operates Shuidihuzhu, a mutual assistance platform; Shuidichou, a zero-commission patient-centered crowdfunding platform; and Shuidi Insurance Mall, an insurance distribution platform offering 80 different insurance products from 60 Chinese insurers.
Norway-based web browser Opera announced the launch of Opera GX, a web browser with features designed specifically for gamers. With the new browser, gamers will be able to play more sophisticated games, Opera said, with no negative impact on the performance of its companion main browser. Founded in 1995, Opera currently has 65 million users worldwide. The company went public on Nasdaq in 2018, raising $115 million. IDG Capital joined Opera’s pre-IPO financing round.
Zoox, a Foster City, Calif.-based driverless car startup, is focusing on three core competencies – artificial intelligence, four-wheel steering and long-lasting batteries – to both develop and manufacture the driverless car of the future. To date, Zoox’s custom-designed vehicle platform has attracted $800 million in private equity and venture capital. IDG Capital joined Zoox's Series A funding round in 2016.
France’s 23-member women’s team is favored to win the Women’s World Cup this summer, thanks in part to seven participants from Olympique Lyonnais. In the FIFA opener in Paris, three OL players – Wendie Renard, Eugenie Le Sommer and Captain Amandine Henry – contributed four goals, as France defeated South Korea 4-0. In 2016, IDG Capital invested $110 million for a 20% stake in OL Group, which owns Olympique Lyonnais. OL is currently listed on the Paris stock exchange.
Ctrip, China's largest online travel agency, anticipates that international business will outpace domestic expansion within five years. Outbound Chinese tourism is driving Ctrip’s business, aided by overseas travel websites, including U.K.-based Skyscanner and India-based MakeMyTrip.com, both owned by the Shanghai-based company. Ctrip posted $1.2 billion in revenues in Q1, with 35% of the total attributed to international travel. IDG Capital was an early investor in Ctrip, which went public on Nasdaq in 2003.
Club Factory, one of Asia’s leading high-end fashion e-commerce platforms, is waiving fees in India to lure more sellers away from rivals Amazon and FlipKart. Club Factory, based in Hangzhou, China, said the move is designed to expand the firm’s market in India by 20-30 percent. IDG Capital led a $100 million Series A funding round in Club Factory in 2O18 and previously also joined the firm’s Series A round.
The Hong Kong-based South China Morning Post included Kr Space on its list of the top eight “most beautiful luxury co-working spaces” in Asia. Founded in 2016, Beijing-based Kr Space operates co-working spaces in 12 Chinese cities – including Beijing, Shanghai, Hong Kong and Guangzhou – and has more than 220,000 members. IDG Capital previously participated in three venture rounds for Kr Space, including a $145 million investment round as recently as May.
NIO, a Shanghai-based manufacturer of electric autonomous vehicles, reports that it is looking for a manufacturing partner to help build a new production base in Beijing. NIO made the announcement four days after announcing it will form a joint venture with Beijing E-Town International, a Chinese State-owned investment firm, for a new $1.45 billion capital infusion. NIO went public on the New York Stock Exchange in 2018, raising $1 billion in its initial public offering. Prior to the IPO, IDG Capital joined the firm’s Series B+ funding round.
Cryptocurrency trading platform Coinbase, based in San Francisco, is including support for EOS, a cryptocurrency designed to support large-scale decentralized applications for retail customers. Retail users can now purchase, sell, convert, send, receive or simply store EOS. Coinbase said its new product option is currently available in most markets except the U.K. and the U.S. State of New York. In 2013, IDG Capital was an angel investor in Coinbase.
Chinese e-commerce platform Secoo is partnering with Italian luxury group Prada to offer products made by Prada and its high-fashion subsidiary, Miu Miu. Secoo is now China’s largest online store for luxury goods. The firm reported $260 million in revenue in Q4 2018 and currently has 406,000 active customers. IDG Capital previously invested in Secoo's Series A, B and C funding rounds. Based in Shanghai, Secoo first went public on Nasdaq in 2017.
Easy Transfer, an online financial service platform for Chinese students studying overseas, processed $776 million in transactions in 2018. The company projects the total number of transactions will reach $2.6 billion by year-end through more than 100,000 payments. Founded in 2013, Easy Transfer currently has customers in more than 1,900 overseas colleges, universities high schools and private academies in 27 countries. IDG Capital first led a pre-seed round in Easy Transfer in 2016 and later joined the company’s series A round in 2018.
James Breyer, Co-Chairman of IDG Capital, will step down from the Harvard Corp. on June 30 after his six-year term. During his tenure there, Breyer served on the finance committee and on the governing boards’ joint committees on inspection, alumni affairs and development. Breyer is also a member of the board of dean’s advisers at Harvard Business School. William Lee, a Corporation senior fellow, said Harvard has always benefited from Breyer’s “lively intellect, his global outlook, his keen understanding of technology and his constant eye on the future.” In addition to his position at IDG Capital, Breyer, who was an early investor in Facebook, is also Chairman of Breyer Capital in Menlo Park, California.
China’s food delivery giant Meituan-Dianping saw revenue grow 70.1 percent to $2.78 billion in the first quarter of 2019. Revenue from Meituan’s core food delivery business was also up 51.7 per cent in Q1 year-on-year to 10.7 billion yuan. IDG Capital was an early investor in Meituan, which raised $4.2 billion in its initial public offering on the Hong Kong Stock Exchange in 2018.
Infront Sports & Media, an international sports marketing agency based in Switzerland, has launched iX.co, a new digital venture connecting brands and sports rights-holders directly to sports fans. iX.co will merge Infront’s in-house digital team with OMNIGON, a New York-based digital services company acquired by Infront earlier this year. With a 250-member staff, the new venture will operate in New York, London, Los Angeles, Paris, St. Petersburg, Toronto and Zug, Switzerland. China's Dalian Wanda Group acquired Infront in 2015. IDG Capital is also an Infront investor.
Sanjieke, a China-based career training platform targeting IT professionals, has raised $19 million in a Series B round. Sanjieke provides systematic courses to Internet industry practitioners and also works with leading Chinese Internet companies to build core skill evaluation standards and assessment tools. The Beijing-based start-up said it will use the latest investment to expand its business operations. IDG Capital led Sanjieke’s series A fund in 2018. The company’s valuation currently exceeds $145 million.
Lime, a San Francisco-based electric scooter and bike-sharing provider, is launching a new marketing program to demonstrate how micro-mobility is changing the global urban transportation landscape. The new marketing program was created in partnership with Anonymous Content, a commercial, film and television production company based in Culver City, California. In 2017, IDG Capital joined Lime's Series A funding round.