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- Bianlifeng
Bianlifeng Valuation, Funding & Investors
Bianlifeng is valued at $1.6B as of October 2018.
Last Bianlifeng valuation
$1.6B
Series B · Oct 2018
Last Bianlifeng funding round
$100M
Series C · May 2020
Cumulative funding Bianlifeng raised
$656M
across 3 funding rounds
Key investors in Bianlifeng
Tencent
Hillhouse Investment
Zebra Global Capital
About Bianlifeng
Bianlifeng is a China-based developer and operator of cashier-free convenience stores combining expertise from traditional retail veterans and internet technologists. It runs grab-and-go outlets equipped with computer vision systems in urban locations via bianlifeng.com.
Founded
2016
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Product sales
Valuation
$1.6B (Oct 2018)
Sectors
Bianlifeng Valuation
Bianlifeng is currently valued at $1.6B, based on its Series B in October 2018.
The $256M round was led by Hillhouse Investment and Tencent.
Bianlifeng's valuation has grown 1.6x from $1B at its Series A in May 2017 to $1.6B in October 2018, across 2 priced rounds.
Bianlifeng valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Oct 2018 | Series B | $1.6B |
| May 2017 | Series A | $1B |
Bianlifeng Funding History
Bianlifeng has raised a total of $656M across 3 funding rounds.
Bianlifeng's first fundraising round was a $300M Series A in May 2017. The most recent completed round was a $100M Series C in May 2020.
Bianlifeng funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| May 2020 | Series C | - | $100M | - | Bianlifeng is a Chinese cashierless convenience store operator founded in 2016 that operates automated retail locations concentrated in major business districts. The company raised $100 million in May 2020 from undisclosed investors as part of its rapid expansion strategy. By May 2020, Bianlifeng had accumulated $1.5 billion in total funding across multiple rounds since its founding, with earlier rounds including $300 million from Zebra Capital in February 2017 and $256 million from Tencent and Hillhouse Capital in October 2018. The company operated more than 2,000 stores across 20 Chinese cities and carried approximately 400 proprietary products alongside fresh food offerings. Bianlifeng's Beijing stores were profitable by 2020, and the company planned to leverage its funding for supply chain infrastructure including a fresh food processing facility in Tianjin and further geographic expansion. |
| Oct 2018 | Series B | Hillhouse Investment (lead); Tencent (lead) | $256M | $1.6B | Bianlifeng, known as 'Convenient Bee,' is a smart convenience store operator founded in 2016 by Zhuang Chengchao, who previously launched and sold travel platform Qunar. The company operates cashier-free stores using mobile payments and QR code-enabled POS systems, with staff for tasks like serving food and restocking. In October 2018, it raised USD 256 million (RMB 1.77 billion) from Tencent and Hillhouse Capital, coinciding with the launch of a logistics and food delivery service in Beijing. At that time, Bianlifeng had around 677 stores across China, with more than half in Beijing and significant presence in Tianjin, Nanjing, and Shanghai. The funding supported expansion into food delivery, where Bianlifeng aimed to control its own e-commerce channels and delivery team for a new revenue stream, benchmarking fresh products against competitors like Hema and MeiRiYouXian. This involved higher investments in logistics for fresh goods, which have shorter shelf lives and elevated costs compared to general products. The company sought to transform from convenience stores meeting urgent needs (e.g., tissues) to a supermarket model amid rising demand for non-food deliveries. Challenges included building a delivery user base from its physical store customers, fixed 4 yuan per order delivery costs, higher in-store pricing, and competition from established platforms like Meituan and Ele.me. Shortly after the round, Bianlifeng increased its registered capital from USD 100 million to USD 150 million to potentially attract investors, secure loans, or expand operations. |
| May 2017 | Series A | Zebra Global Capital (lead) | $300M | $1B | Bianlifeng is a Chinese convenience store chain founded in December 2016 by Zhuang Chenchao, former CEO of Qunar.com, focusing on fully automated retail in snack food, consumer goods, and retail sectors. It opened its first offline store in Beijing in February 2017 and planned high-speed expansion, aiming for over 4,000 stores by 2021 to rank among China's top five convenience stores. In March 2017 (noted variably as 2/9/2017 or 03 May 2017), it raised $300M in an Early Stage Venture round from lead investor Zebra Global Capital, described as a Round A investment. Bianlifeng later raised additional funding, including $256M in October 2018 from Tencent and Hillhouse Capital (Round B), reaching cumulative fundraising of over $1.5B USD by May 2020, all directed toward expanding its convenience store chain in China. |
Who has invested in Bianlifeng?
3 investors have backed Bianlifeng across its funding rounds, including Tencent, Hillhouse Investment and Zebra Global Capital.
Lead investors include Hillhouse Investment, Tencent and Zebra Global Capital.
Bianlifeng Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Lead | May 2017 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Bianlifeng
Bianlifeng has acquired 1 company to date.
Last acquisition by Bianlifeng was on January 12th 2018. Bianlifeng acquired Ling Wa Co. Ltd. for undisclosed valuation.
Latest Acquisitions by Bianlifeng
| Description | Ling Wa Co. Ltd. is a Beijing-based provider of self-service convenience store and logistics systems established in 2015. The company enables enterprises to launch zero-cost on-site stores stocking snacks, drinks, fruits, and cold beverages for employees. It also supplies conference coffee services, holiday welfare packages, and customized options, having served nearly 10,000 companies including prominent public firms across China. |
| HQ Country | |
| HQ City | Hangzhou |
| Deal Date | 12 Jan 2018 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Bianlifeng acquisitions and their M&A valuation multiples. Start Free Trial | |
Bianlifeng Competitors
Bianlifeng competitors include listed companies like Green Thumb Industries, HORNBACH Holding and PAL Group Holdings, and private ones like CoolerX, Sportano and Carzone.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $500M | - | ||
| Private | $47M | - | $160M | - | ||
| Publicly listed | $1.2B | $469M | $1.6B | 1.6x | ||
| Publicly listed | $7.4B | $546M | $1.5B | 0.4x | ||
| Publicly listed | $1.5B | $194M | $1.7B | 0.8x | ||
| Private | - | - | $1.5B | - |
Bianlifeng Public Comps
Bianlifeng is still privately-owned, but its public comps include Green Thumb Industries, HORNBACH Holding, PAL Group Holdings, Sally Beauty Holdings, NEXTAGE, Edgars Stores, Bilia, Savers Value Village, Lovisa Holdings and National Vision.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.2B | $469M | 1.6x | 1.6x | 4.0x | 5.9x | |||
| $7.4B | $546M | 0.4x | 0.4x | 5.6x | 5.1x | |||
| $1.5B | $194M | 0.8x | 0.8x | 6.5x | 6.4x | |||
| $3.7B | $428M | 0.8x | 0.8x | 6.6x | 6.4x | |||
| $4.2B | $162M | 0.5x | 0.4x | 12.4x | 9.2x | |||
| $34M | $9M | 43.3x | - | 166.8x | - | |||
| $4.1B | $292M | 0.6x | 0.5x | 7.9x | 7.8x | |||
| $1.7B | $180M | 1.6x | 1.6x | 15.3x | 10.3x | |||
This data is available for Pro users. Sign up to see all Bianlifeng competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Bianlifeng
| When was Bianlifeng founded? | Bianlifeng was founded in 2016. |
| Where is Bianlifeng headquartered? | Bianlifeng is headquartered in Beijing, China. |
| Is Bianlifeng publicly listed? | No, Bianlifeng is a private, VC-backed company. |
| What is Bianlifeng's valuation? | Bianlifeng was last valued at $1.6B in its Series B in October 2018. |
| How much funding has Bianlifeng raised? | Bianlifeng has raised $656M across 3 funding rounds. |
| What was Bianlifeng's last funding round? | Bianlifeng's last funding round was a $100M Series C in May 2020. |
| Who are Bianlifeng's investors? | Bianlifeng's investors include Zebra Global Capital, Tencent and Hillhouse Investment. |
| Which companies are comparable to Bianlifeng? | Companies comparable to Bianlifeng include CoolerX, Sportano, Green Thumb Industries, HORNBACH Holding, PAL Group Holdings and Carzone. |
| How many companies has Bianlifeng acquired? | Bianlifeng has acquired 1 company, including Ling Wa Co. Ltd.. |
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