Shanghai Yibaimi Network Technology Co., Ltd. Asset Profile

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Year established

2014

Location

Shanghai China

Primary Industry

Internet

About

Based in Shanghai, China, and founded in 2014, Shanghai Yibaimi Network Technology Co., Ltd., trading under the name Dingdong Maicai, develops a shopping platform for fresh foods. The company was founded by its CEO Liang Changlin. As of 2021, the company operates in 29 cities in China, including Shanghai, Beijing, Shenzhen, Guangzhou, Hangzhou, etc. In May 2021, Shanghai Yibaimi Network Technology Co., Ltd. raised USD 330 million in series D funding led by new investor SB Investment Advisers and In June 2021, Shanghai Yibaimi Network Technology Co., Ltd. raised USD 95.69 million in an IPO, selling 4.07 million shares at USD 23.5 per share on the NASDAQ. Dingdong Maicai's platform allows consumers to buy fresh vegetables, fresh fruits, meats, seafood, and more through its mobile application. The company operates as an ingredient food operator and seller that offers fresh home service and delivery of the products. The company's mobile application also offers free online gourmet cooking classes. In 2020, Dingdong generated revenue of USD 1.7 billion with a net loss of USD 484.9 million and In the first quarter of 2021, its revenue was around USD 580.3 million with a net loss of USD 211.4 million. The company plans to further expand its operation and its supply chain investments to a new regional expansion. The company also plans to be listed on the NYSE (New York Stock Exchange) under the symbol DDL.

Current Investors

Gaorong Ventures, Yonghua Capital, Red Star Macalline Group Corporation Ltd.

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Primary Industry

Internet

Sub Industries

Courier & Delivery Services, Internet

Website

www.100.me

Verticals

E-commerce, Mobile Apps

Company Stage

Series D

Total Amount Raised

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