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- Koubei
Koubei Valuation, Funding & Investors
Koubei is valued at $8B as of January 2017.
Last Koubei valuation
$8B
Undisclosed stage · Jan 2017
Last Koubei funding round
$1.1B
Undisclosed stage · Jan 2017
Cumulative funding Koubei raised
$1.1B
across 1 funding round
Key investors in Koubei
CDH Investments
Silver Lake
YF Capital
Primavera Capital Group
About Koubei
Koubei is a Hangzhou-based local-services platform within Alibaba Group that helps Chinese consumers discover, book and pay for in-store dining, entertainment and other lifestyle services. Through the Koubei app and Alipay, users find restaurants and merchants, read reviews, redeem offers and order ahead, while merchants use its tools for marketing, membership and digital store operations. The platform reuses the Koubei.com brand of a lifestyle review site founded in 2004 by Li Zhiguo that Alibaba later absorbed. Koubei was relaunched in June 2015 as a 50-50 joint venture of Alibaba and Ant Financial, each contributing RMB 3 billion, with an initial focus on food and beverage merchants. In January 2017 it raised $1.1 billion from Silver Lake, CDH Investments, Yunfeng Capital and Primavera Capital, its first outside capital. In 2018 Alibaba placed Koubei alongside the Ele.me food-delivery platform in a combined local-services company under a single management team and moved to consolidate it. Koubei earns revenue from merchant marketing and services rather than from delivery.
Founded
2004
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Commission
Valuation
$8B (Jan 2017)
Koubei Valuation
Koubei is currently valued at $8B, based on its undisclosed-stage round in January 2017. Read the announcement ↗
The $1.1B round was led by CDH Investments, Primavera Capital Group, Silver Lake and YF Capital.
Koubei valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jan 2017 | Undisclosed stage | $8B |
Koubei Funding History
Koubei has raised a total of $1.1B across 1 funding round.
Koubei funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jan 2017 | Undisclosed stage | CDH Investments (lead); Primavera Capital Group (lead); Silver Lake (lead); YF Capital (lead) | $1.1B | $8B | Koubei, an Alibaba affiliate and 50-50 joint venture with Ant Financial launched in 2015, operates a local services platform offering online-to-offline commerce including restaurant reservations, movie tickets, and merchant marketing in China. It closed a $1.1 billion equity financing round in January 2017 led by Silver Lake, CDH Investments, Yunfeng Capital, and Primavera Capital Group, marking its first external investment after initial RMB 3 billion contributions from Alibaba and Ant Financial. The round provided capital for aggressive growth against competitors like Meituan-Dianping and Ele.me. A Wall Street Journal report from October 2016 indicated a nearly $8 billion valuation, but Alibaba did not confirm this figure. In Q4 2016 (ended Dec 31), Koubei processed 73.1 billion RMB ($10.5 billion) in payment volume through Alipay, up 52% quarter-over-quarter, with annual GMV of 173.1 billion RMB and partnerships with over 1.5 million offline merchants. Koubei reported losses, with Alibaba attributing 237 million RMB quarterly loss to it, implying total quarterly losses around 474 million RMB. CEO Samuel Fan targeted profitability by 2019 through expanded offline vendor partnerships. |
Who has invested in Koubei?
4 investors have backed Koubei across its funding rounds, including CDH Investments, Silver Lake, YF Capital and Primavera Capital Group.
Lead investors include CDH Investments, Primavera Capital Group, Silver Lake and YF Capital.
Koubei Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Lead | Jan 2017 | ||
| 1 | Lead | Jan 2017 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialInvestments by Koubei
Koubei has invested in 5 companies to date.
Latest investment by Koubei was on September 3rd 2018. Koubei invested in BOKA in their $15M Series B round.
Latest Investments by Koubei
| Description | Shanghai-based BOKA delivers SaaS platforms tailored for China's life services sector. The company specializes in management and marketing software for hairdressing salons, beauty clinics, nail art studios, medical aesthetics centers, pedicure shops, yoga studios, dance academies, fitness centers, and sports facilities. BOKA maintains over 40 service centers nationwide to support store operations with localized solutions. Founded in 2004, it integrates with platforms like Ali Koubei for enhanced O2O capabilities. | Meiwei Buyongdeng is a provider of smart food service solutions in China. It delivers B2B SaaS tools and consumer apps addressing restaurant efficiency, management, marketing, costs, and dining experiences. The company connects restaurants with consumers via a nationwide sales network, headquartered in China with operations spanning major cities. | China-headquartered Xiyun International supplies group catering services to corporate clients. It manages brand positioning, procures daily ingredients through its supply chain, ensures food safety compliance, trains personnel, and implements IT systems for order tracking and inventory control across multiple facilities. | Silver Box System is a provider of cloud-based point-of-sale systems tailored for restaurants and catering businesses in China. The company delivers integrated platforms encompassing catering management software, smart all-in-one payment terminals, merchant mobile applications, supply chain tracking tools, and intelligent hardware terminals. Its self-service offerings include touchscreen ordering kiosks, handheld POS devices, kitchen display systems, operational dashboards, QR code-based ordering, credit financing options, membership management modules, targeted marketing automation, and real-time data reporting features. Operating primarily through its POSaaS platform, Silver Box System supports streamlined front-of-house and back-of-house processes for hospitality operators nationwide. | |
| HQ Country | |||||
| HQ City | Shanghai | Shanghai | Beijing | Hangzhou | |
| Deal Date | 3 Sep 2018 | 11 May 2018 | 9 May 2018 | 31 Mar 2018 | |
| Round | Series B | Series D | Series A | Series C | |
| Raised | $15M | $63M | $200M | $5M | |
| Investors | - | Alibaba Group; Trip.com | Ant Group; CDH Investments | - | |
| Valuation | undisclosed | $628M | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all Koubei investments and their VC round multiples. Start Free Trial | |||||
Koubei Competitors
Koubei competitors include listed companies like Kakaku.com, Autohome, News Corp and TX Group, and private ones like BGL Group and CargoX.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $597M | $173M | $4.7B | 6.6x | ||
| Private | $778M | - | $2.4B | 3.0x | ||
| Publicly listed | $969M | $172M | $2.3B | - | ||
| Private | - | - | $1B | - | ||
| Publicly listed | $9B | $1.5B | $16B | 1.9x | ||
| Publicly listed | $1.1B | $309M | $2.3B | 2.4x |
Koubei Public Comps
Koubei is still privately-owned, but its public comps include M3 Inc., Info Edge, Food & Life Companies, McDonald's Japan, Brinker International, Luckin Coffee, Cava Group, Scout24, Guming Holdings and carsales.com.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $2.2B | $467M | 3.2x | 3.0x | 15.5x | 12.1x | |||
| $345M | $210M | 22.8x | 22.8x | 37.5x | 53.7x | |||
| $2.7B | $229M | 3.4x | 2.8x | 41.0x | 15.5x | |||
| $2.6B | $434M | 2.6x | 2.6x | 15.8x | - | |||
| $5.8B | $840M | 1.8x | 1.8x | 12.6x | 11.9x | |||
| $7.4B | $999M | 1.2x | 1.0x | 9.0x | 7.2x | |||
| $1.2B | $129M | 5.9x | 4.8x | 53.7x | 37.7x | |||
| $726M | $373M | 9.7x | 8.4x | 18.9x | 14.0x | |||
This data is available for Pro users. Sign up to see all Koubei competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Koubei
| When was Koubei founded? | Koubei was founded in 2004. |
| Where is Koubei headquartered? | Koubei is headquartered in Hangzhou, China. |
| Is Koubei publicly listed? | No, Koubei is a private, VC-backed company. |
| What is Koubei's valuation? | Koubei was last valued at $8B in its undisclosed-stage round in January 2017. |
| How much funding has Koubei raised? | Koubei has raised $1.1B across 1 funding round. |
| What was Koubei's last funding round? | Koubei's last funding round was a $1.1B undisclosed-stage round in January 2017, led by CDH Investments, Primavera Capital Group, Silver Lake and YF Capital. |
| Who are Koubei's investors? | Koubei's investors include Silver Lake, YF Capital, Primavera Capital Group and CDH Investments. |
| Which companies are comparable to Koubei? | Companies comparable to Koubei include Kakaku.com, BGL Group, Autohome, CargoX, News Corp and TX Group. |
| How many companies has Koubei invested in? | Koubei has invested in 5 companies, including BOKA, Meiwei Buyongdeng, Xiyun International, Silver Box System and CHOICE. |
| What was Koubei's last investment? | In September 2018, Koubei invested in BOKA's $15M Series B. |
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