Daojia Completes Series C Funding Led by Jingdong and Morningside Ventures
BEIJING, Sept. 2, 2013 /PRNewswire/ -- Beijing Shishang Renjia Networks Technology Co. Ltd. ("Daojia.com.cn" or "Daojia"), a leading online food ordering and delivery service provider in China, announced today that it has successfully completed its latest round of financing, with JD.com ("Jingdong"), a leading B2C e-commerce company in China, and Morningside Ventures, an existing shareholder of Daojia, co-leading the investment.
According to iResearch, by 2015 the number of China online-to-offline ("O2O") customers will reach 300 million and China's O2O market will exceed RMB 270 billion (USD 44 billion), with food representing one of the largest vertical segments. Daojia's self-operated, community-based delivery network is unique in China's food O2O sector, creating first-mover advantages, while enabling Daojia to have full control over its transaction process and customer experience.
"China's Internet industry is entering a new era of O2O, which together with e-commerce is re-shaping consumer behavior," commented Sun Hao, Daojia's Founder and CEO. "We believe that partnering with Jingdong will provide tremendous benefits to our business in terms of improvements in IT and delivery services, and expansion into new cities. We look forward to a close and productive partnership."
Established in April 2010, Daojia is focused on online food ordering and delivery services targeting China's middle-class urban population. Customers can order meals from a variety of local restaurants through Daojia's website, mobile app or call center, which will then be delivered by Daojia's self-operated delivery team. Daojia currently covers the urban areas in Beijing and Shanghai. It now has hundreds of thousands of users, and partners with more than 1,800 restaurants. It employs more than 500 delivery staff in Beijing and Shanghai. For more information, please visit www.daojia.com.cn.
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