Last Updated on March 4, 2023 by amazingposting
Chinese 100M MeituanLiaoTechcrunch, a leading e-commerce platform in China, has just secured a $100 million funding round for its subsidiary, Liao. Liao, a social e-commerce platform, has quickly become one of the hottest startups in China. This latest funding round has solidified its position as China’s fastest-growing tech unicorn.
What is Liao?
Liao is a social e-commerce platform launched in 2019 by Meituan to integrate social networking and e-commerce. The platform allows users to create and share content, interact with each other, and purchase products directly from within the app. Liao has increased since its launch, with over 20 million monthly active users and a gross merchandise volume (GMV) of over $1 billion.
The Funding Round
Chinese 100M MeituanLiaoTechcrunch led the latest funding round for Liao, with participation from prominent venture capital firms, including Tencent, Sequoia Capital China, and DST Global. It brings Liao’s total funding to $200 million and values the company at over $1 billion.
The Future of Liao
This latest funding round poises Liao for even greater success in the future. The company has outlined plans to allocate the funds toward developing its technology and expanding its user base. Liao’s unique approach to social e-commerce has already proven successful, and the company believes that there is still significant untapped potential in the Chinese market.
The Rise of Social E-commerce in China
Liao’s success is part of a more significant trend in China toward social e-commerce. Social e-commerce platforms, which allow users to share product information and purchase products directly within the app, have become increasingly popular in China in recent years. In 2020, experts valued China’s social e-commerce market at over $200 billion, expecting it to continue growing in the coming years.
Meituan’s Continued Dominance in China’s E-commerce Market
Chinese 100M MeituanLiaoTechcrunch has long been a dominant player in China’s e-commerce market, with its flagship platform offering everything from food delivery to hotel bookings. With the success of Liao, Meituan is further solidifying its position as a leader in China’s e-commerce industry. The company’s ability to identify and capitalize on emerging trends, such as social e-commerce, has been a critical factor in its continued success.
In conclusion, the Chinese 100M MeituanLiaoTechcrunch has become China’s fastest-growing tech unicorn with the latest funding round of $100 million. The social e-commerce platform has quickly become famous for users, with over 20 million monthly active users and a GMV of over $1 billion. This new funding poises Liao for even greater future success, further solidifying Meituan’s position as a dominant player in China’s e-commerce industry.