Wanda E-commerce is a China-based e-commerce joint venture formed by Wanda with participation from Tencent and Baidu that aims to compete with Alibaba. The company plans to focus on an online-to-offline model, leveraging Wanda’s extensive brick-and-mortar assets to drive customers and data for its online services. It integrates Tencent products like TenPay and Weixin Payment and seeks to capitalize on WeChat’s large user base. Wanda E-commerce says it expects to be fully operational in the fourth quarter and will initiate a second round of fundraising then. Financially, the company raised ¥1 billion (about $161 million) in the reported round and its valuation was reported at ¥20 billion (about $3 billion). Operating metrics cited in the article include 1.5 million customers in 2014 and a company projection of six billion customers by 2020.

Total raised

$161M

Funding rounds

1

Latest round

Equity

Latest activity

Jan 2015