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- Doublefs
Doublefs Valuation, Funding & Investors
Doublefs is valued at $700M as of June 2021.
Last Doublefs valuation
$700M
Series A · Jun 2021
Last Doublefs funding round
$100M
Series A · Jun 2021
Cumulative funding Doublefs raised
$130M
across 2 funding rounds
Key investors in Doublefs
IDG Capital
HSG
5Y Capital
Capital Today
Hike Capital
Doublefs Overview
About Doublefs
Doublefs is a fashion-focused e-commerce platform delivering curated clothing and accessories through its online storefront.
Founded
2020
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Product sales
Valuation
$700M (Jun 2021)
Doublefs Valuation
Doublefs is currently valued at $700M, based on its Series A in June 2021.
The $100M round included IDG Capital, Hike Capital, 5Y Capital, Capital Today and HSG.
Doublefs' valuation has grown 4.7x from $150M at its angel round in January 2020 to $700M in June 2021, across 2 priced rounds.
Doublefs valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jun 2021 | Series A | $700M |
| Jan 2020 | Angel | $150M |
Doublefs Funding History
Doublefs has raised a total of $130M across 2 funding rounds.
Doublefs' first fundraising round was a $30M angel round in January 2020. The most recent completed round was a $100M Series A in June 2021.
Doublefs funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jun 2021 | Series A | IDG Capital; Hike Capital; 5Y Capital; Capital Today; HSG | $100M | $700M | Doublefs is a Beijing-based cross-border fashion e-commerce platform specializing in sports and leisure clothes, aiming to provide quality yet affordable fast-fashion products to global consumers via advanced supply chains in China and Southeast Asia. Founder Jocey Zhang previously served as CTO at SoftBank-backed Chehaoduo and worked at Microsoft, Hulu, and CreditEase. The company raised as much as $100 million in a new financing round announced around June 18, 2021, with participation from Sequoia Capital China, IDG Capital, 5Y Capital, HIKE Capital, and Capital Today. Previously, Doublefs secured about $30 million in an angel round the prior year at a $150 million valuation. The platform operates in China's growing cross-border e-commerce market, where imports and exports reached 419 billion yuan ($66 billion) in Q1 2021. Comparable fast-fashion brands include Shein, which generated nearly $10 billion in annual revenue in 2020, alongside CHICV (recently raised $50 million Series B led by Tencent), Zaful, and Jollychic. |
| Jan 2020 | Angel | - | $30M | $150M | Doublefs is a Beijing-headquartered cross-border fashion e-commerce platform specializing in sports and leisure clothes, aiming to provide quality yet affordable fast-fashion products to global consumers via advanced supply chains in China and Southeast Asia. Founder Jocey Zhang, former CTO at SoftBank-backed Chehaoduo, has experience with Microsoft, Hulu, and CreditEase. The company secured about $30 million in its angel round approximately in 2020 at a $150 million valuation. Investors in the subsequent round (up to $100 million, investors including Sequoia Capital China, IDG Capital, 5Y Capital, HIKE Capital, and Capital Today) are noted. China's cross-border e-commerce imports and exports reached 419 billion yuan ($66 billion) in Q1 of the announcement year. Doublefs operates alongside competitors like Shein (nearly $10 billion annual revenue in 2020), CHICV ($50 million Series B in April that year), Zaful, and Jollychic. |
Who has invested in Doublefs?
5 investors have backed Doublefs across its funding rounds, including IDG Capital, HSG, 5Y Capital, Capital Today and Hike Capital.
Doublefs Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Participant | Jun 2021 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Participant | Jun 2021 | ||
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Start Free TrialDoublefs Competitors
Doublefs competitors include listed companies like ASOS, AO World and WeBuyCars, and private ones like PharmEasy, Hungryroot and ThirdLove.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $250M | - | $710M | - | ||
| Publicly listed | $3.3B | ($61M) | $681M | 0.5x | ||
| Publicly listed | $1.7B | $103M | $679M | 0.4x | ||
| Publicly listed | $1.6B | $90M | $734M | 0.5x | ||
| Private | $175M | - | $750M | 4.3x | ||
| Private | $100M | - | $750M | 7.5x |
Doublefs Public Comps
Doublefs is still privately-owned, but its public comps include Fanli Digital Technology, ASOS, Wish, AO World, ASKUL, WeBuyCars, almeera, DocMorris, Cars.com and QVC Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $82M | ($10M) | 8.0x | - | (67.3x) | - | |||
| $3.3B | ($61M) | 0.4x | 0.5x | (22.8x) | 6.6x | |||
| - | ($31M) | - | - | (42.8x) | - | |||
| $1.7B | $103M | 0.4x | 0.4x | 6.4x | 6.0x | |||
| $2.6B | ($100M) | 0.3x | 0.3x | (8.8x) | 263.4x | |||
| $1.6B | $90M | 0.5x | 0.5x | 9.7x | 8.6x | |||
| $799M | $83M | 1.2x | 1.1x | 11.3x | 11.5x | |||
| $1.4B | ($73M) | 0.6x | 0.6x | (11.6x) | (23.8x) | |||
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Common questions about Doublefs
| When was Doublefs founded? | Doublefs was founded in 2020. |
| Where is Doublefs headquartered? | Doublefs is headquartered in Beijing, China. |
| Is Doublefs publicly listed? | No, Doublefs is a private, VC-backed company. |
| What is Doublefs' valuation? | Doublefs was last valued at $700M in its Series A in June 2021. |
| How much funding has Doublefs raised? | Doublefs has raised $130M across 2 funding rounds. |
| What was Doublefs' last funding round? | Doublefs' last funding round was a $100M Series A in June 2021. |
| Who are Doublefs' investors? | Doublefs' investors include IDG Capital, Hike Capital, 5Y Capital, Capital Today and HSG. |
| Which companies are comparable to Doublefs? | Companies comparable to Doublefs include PharmEasy, ASOS, AO World, WeBuyCars, Hungryroot and ThirdLove. |
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