Alibaba leads $40m series C for grocery e-commerce startup Shandiangou

A logo of Alibaba Group is pictured at its headquarters in Hangzhou, Zhejiang province, China, October 14, 2015. REUTERS/Stringer CHINA OUT

Alibaba Group Holdings Ltd, has closed a $40 million (RMB267 million) series C round of funding in grocery e-commerce platform Shandiangou, the China Money Network reported.

As part of the transaction, Alibaba and Shandiangou will cooperate on traffic flows and logistics.

Shandiangou – which means shopping with lightning speed – will allow Alibaba users to access its platform to buy groceries from local convenience stores with one-hour delivery using their mobile apps.

Founded in 2014, the Hangzhou-based startup was launched by two former Alibaba employees, Wang Yongsen and Wu Qiangqiang.

Shandiangou now claims to operate in five major cities in China with seven million users and daily orders of up to 50,000. It plans to expand into 10 cities at the end of the year.

Shandiangou in 2014 received an undisclosed series A round from Matrix Partners China and Yunjing Capital. This was followed by a $25 million series B funding round that it completed in 2015, led by Shunwei Capital Partners and H Capital, participated also by Matrix and Yuanjing.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.