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

ChinaBeijing

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

Doublefs valuation by funding round
DateStageValuation
Jun 2021Series A$700M
Jan 2020Angel$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

Doublefs funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jun 2021Series AIDG Capital; Hike Capital; 5Y Capital; Capital Today; HSG$100M$700MDoublefs 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 2020Angel-$30M$150MDoublefs 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

Investors in Doublefs by funding rounds participated
InvestorHQRoundsRoleFirst check
IDG CapitalChinaBeijing1ParticipantJun 2021
Hike CapitalChinaBeijing1ParticipantJun 2021
5Y CapitalChinaChina1ParticipantJun 2021

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Doublefs Competitors

Doublefs competitors include listed companies like ASOS, AO World and WeBuyCars, and private ones like PharmEasy, Hungryroot and ThirdLove.

Public and private companies comparable to Doublefs
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
PharmEasyIndiaMumbaiPrivate$250M-$710M-
ASOSUnited KingdomUnited KingdomPublicly listed$3.3B($61M)$681M0.5x
AO WorldUnited KingdomUnited KingdomPublicly listed$1.7B$103M$679M0.4x
WeBuyCarsSouth AfricaSouth AfricaPublicly listed$1.6B$90M$734M0.5x
HungryrootUnited StatesNew York City, NYPrivate$175M-$750M4.3x
ThirdLoveUnited StatesSan Francisco, CAPrivate$100M-$750M7.5x

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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Fanli Digital Technology$82M($10M)8.0x-(67.3x)-
ASOS$3.3B($61M)0.4x0.5x(22.8x)6.6x
Wish-($31M)--(42.8x)-
AO World$1.7B$103M0.4x0.4x6.4x6.0x
ASKUL$2.6B($100M)0.3x0.3x(8.8x)263.4x
WeBuyCars$1.6B$90M0.5x0.5x9.7x8.6x
almeera$799M$83M1.2x1.1x11.3x11.5x
DocMorris$1.4B($73M)0.6x0.6x(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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