bought the food network to complete the C round of financing of $220 million

NetEase Francisco October 21st news, today, COFCO’s food business website I bought the food network announced the completion of $220 million C round of financing after the completion of this round of financing, valuation of $1 billion round of financing led by the Taikang Life, Baidu, Yunlong capital, investment capital with the sun together, Huaxing capital acted as exclusive financial advisor.

according to reports, after the completion of this round of financing, I bought the network will cooperate with the Taikang Life in the field of health services, health groups use user resources of both sides, providing nutrition and health solutions, financial and insurance services; and in addition to Baidu’s rice, takeaway and other life service resources cooperation.

Changning COFCO chairman Ning said that the introduction of capital and partners to help improve the management quality and operational efficiency, build market-oriented operation mechanism, hand Taikang and Baidu, is not only the financial investment is the depth of strategic cooperation.

I bought the food network CEO Zhao Pingyuan said that this round of financing will be mainly used to improve and upgrade the network I bought cold chain distribution system, strengthen the quality of fresh category expansion, overseas direct mining, free brand and enhance the service experience, increase investment in food safety supervision, expand its competitive advantage and brand awareness.

I bought the

according to the network planning, the next 2 years, it is expected to invest 100 million dollars for the cold chain logistics system layout, the fresh food distribution range has been extended from 60 to 142, is expected to more than 300 in 2017 will complete the layout of the city.

it is understood that, I bought the food network is COFCO investment in 2009 founded B2C in 2013, the electricity supplier of food, get tens of millions of dollars A round of financing Saif; in August 2014, the completion of the $100 million B round of financing, lead investor IDG capital. (Hong Da)