US-based photo-sharing platform Pinterest has opened its first office in Singapore to cater to the Asia Pacific region and Indian market. In a separate development, Chinese startup Miaoshou Doctor has completed a series C funding round, which brings its total valuation to $1 billion.
Pinterest sets up Singapore office
US-based photo sharing platform Pinterest has set up an office in Singapore to ramp up its focus on Southeast Asia, which it considers an important market.
In June alone, the company claims to have seen over a 50 per cent increase in its customer base in the Asian region compared to the corresponding period last year.
This is Pinterest’s second office in Asia as the company previously opened its first office in Japan in 2013.
Through the Singapore office, Pinterest plans to reach out to the Asia Pacific region and India market and strengthen its relationship with brands and publishers. It has a plethora of partnership with companies, such as Vogue India, MasakTV, Tastemade, and Femina Magazine in Indonesia.
Miaoshou Doctor raises capital at $1b valuation
Sequoia Capital China-backed healthcare services platform Miaoshou Doctor raised an undisclosed amount in an extended Series C financing round, bringing the company’s total valuation to $1 billion, China Money Network reported.
Miaoshou, founded in 2014, offers medicines, health, slimming and skin care products on its website and mobile app and caters to customers in 63 cities across 20 Chinese provinces. The names of the investors in the current funding round were not disclosed.
Besides healthcare products, Miaoshou also offers medical consultation services and runs over 200 offline pharmacies.
The startup is understood to have secured $73 million in the second phase of series C funding round in January this year, that was led by Chinese private equity firm Starquest Capital, with participation from Sequoia Capital China.
In the first phase of its series C funding round that was closed in April last year, Miaoshou raised $79.3 million, led by internet giant Tencent. Kun Ling Capital, Sequoia Capital China, and Qiming Venture Partners had also participated in the round.