Chinese mobile on-demand housekeeping services company eJiaJie has been listed on the local National Equitites Exchange and Quotations exchange (NEEQ), or also known as the country’s New Third Board.
The New Third Board was set up in 2012 to cater to small to medium-sized firms that were restricted by regulations from trading in existing exchanges.
Founded in 2012, eJiaJie had previously received $650,000 in a seed round led by Tencent, $4 million in a Series A round from Tencent and Shanda in 2014, and “hundreds of millions (CNY)” in an undisclosed Series C round from CDH Investments, Tencent Industry Win-Win Fund, DFJ, a Chinese brokerage company which was not named, and others in 2015.
The company charges customers an hourly cleaning fee of around $4 for a minimum of two hours. Customers have to book via eJiaJie’s website or IOS and Android mobile apps a day in advance, and can also schedule higher-tier and costlier options like air-conditioner cleaning services.
It had applied to be listed on the stock exchange in December 2015, and said that the application was given the green light last month.
According to a filing, eJiaJie has not broken even and expects to do so in this year. While eJiaJie did not disclose revenue numbers for 2015, it claimed to have generated CNY 6 million (about $925,647.42) in revenue for 2014. On the other hand, the firm noted that it had incurred CNY 30 million in losses from January 2015 to July 2015.
Currently, Tencent Industry Win-Win Fund is the largest institutional investor to hold shares in the company, owning a 12.86 per cent stake in eJiaJie, according to a report.
In China, such services are not uncommon. eJiaJie’s rivals include Ayibang, Yunjiazheng and Ayilaile, which are all venture-backed companies.