Friday, February 26, 2016

55Haitao Gets $15M For Chinese Shopping

Pasadena-based 55Haitao.com, a Chinese shopping site which acts as a forum and shopping guide for Chinese consumers, has raised $15M in a Series A financing, the company said today. The funding was led by JJ Capital, a Chinese venture capital firm. The startup--which is based in Pasadena, but has 90 percent of its customers from China--said the funding will help to fund its editorial content intiiatives and expand operations. The company said it helps such e-commerce provider as Amazon.com, Drugstore.com, GNC.com and Ashford.com provide content tailored for Chinese consumers. 55Haitao wa founded by Alan Gu, who is the company's CEO.