China: Home cleaning service eJiaJie officially listed on NEEQ

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.

Also Read: 

India: Budget hotel aggregator OYO Rooms to foray into food tech, on-demand housekeeping services

China’s chauffeur booking app Ucar raises $568m, files to list on NEEQ

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.