# Shanghai Yibaimi Network Technology Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/shanghai-yibaimi-network-technology-co

- Industry: Internet
- Headquarters: Shanghai, China
- Website: www.100.me
- Total disclosed funding: $1B
- Latest round: Series D (May 13, 2021)
- Investors on record: 24

## 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.

## Funding rounds

- Series D, May 13, 2021, $330M — SB Investment Advisers
- Series D, Apr 6, 2021, $700M — Hong Shan, General Atlantic, Hony Capital, Tiger Global Management, Coatue Management, CMC Capital Partners, DST Global, 3W Fund Management, Ocean Link, BC Capital, Aspex Management, Mass Ave Global, APlus Partners, Gaohu Capital, Today Capital
- Series B, Jul 24, 2019 — Hong Shan, Qiming Venture Partners, CMC Capital Partners, StarQuest, BAI Capital
- Series B, Mar 20, 2019 — Capital Today, CMC Capital Partners, Ocean Link
- Series A, Oct 10, 2018 — Red Star Macalline Group Corporation Ltd., Fortune Capital
- Seed, Aug 2, 2018 — Gaorong Ventures
- Angel, May 1, 2014 — Yonghua Capital

## Investors

- Yonghua Capital (https://capitalatlas.ai/funds/yonghua-capital) — Angel
- Gaorong Ventures (https://capitalatlas.ai/funds/gaorong-ventures) — Seed
- Red Star Macalline Group Corporation Ltd. — Series A
- Fortune Capital — Series A
- Capital Today (https://capitalatlas.ai/funds/capital-today) — Series B
- CMC Capital Partners (https://capitalatlas.ai/funds/cmc-capital-partners) — Series B, Series D
- Ocean Link (https://capitalatlas.ai/funds/ocean-link) — Series B, Series D
- Hong Shan — Series B, Series D
- Qiming Venture Partners (https://capitalatlas.ai/funds/qiming-venture-partners) — Series B
- StarQuest (https://capitalatlas.ai/funds/starquest) — Series B
- BAI Capital (https://capitalatlas.ai/funds/bai-capital) — Series B
- General Atlantic (https://capitalatlas.ai/funds/general-atlantic) — Series D
- Hony Capital (https://capitalatlas.ai/funds/hony-capital) — Series D
- Tiger Global Management (https://capitalatlas.ai/funds/tiger-global-management) — Series D
- Coatue Management (https://capitalatlas.ai/funds/coatue-management) — Series D
- DST Global (https://capitalatlas.ai/funds/dst-global) — Series D
- 3W Fund Management — Series D
- BC Capital — Series D
- Aspex Management — Series D
- Mass Ave Global — Series D
- APlus Partners — Series D
- Gaohu Capital — Series D
- Today Capital — Series D
- SB Investment Advisers (https://capitalatlas.ai/funds/sb-investment-advisers) — Series D